Bajaj Consumer hits 52-week low after promoter stake sale

Shares of Bajaj Consumer Care (formerly Bajaj Corp) hit a 52-week low of Rs 308, down 3 per cent on the BSE in intra-day trade on Wednesday, after the promoter Bajaj Resources sold nearly 7 per cent of its holding via open market on Tuesday. The stock had tanked 9 per cent to Rs 317 yesterday.

On Tuesday, Bajaj Resources had offloaded 10.1 million shares, representing 6.85 per cent stake, in Bajaj Consumer Care for Rs 320 crore. The promoter sold shares at the price of Rs 316.42 per share on the BSE, the bulk deal data shows.

ICICI Prudential