Bajaj Auto promoter acquires shares worth Rs 60 crore

Bajaj Auto Employees Welfare Fund, a promoter entity of Bajaj Auto, on Tuesday acquired over 3 lakh shares in the two-wheeler maker for nearly Rs 60 crore through open market trade.

As per block deal data available with the BSE, Bajaj Auto Employees Welfare Fund bought 3,07,120 shares in Bajaj Auto from various entities including the company's promoters - Bajaj Sevashram and Jamnalal Sons.

The shares were purchased at an average price of Rs 1,946 apiece, valuing the transaction at Rs 59.76 crore.

At the end of July-September quarter, the fund held 18.29 lakh shares, or a 0.63 per cent stake, in Bajaj Auto, while Jamnalal Sons and Bajaj Sevashram held 8.97 per cent and 1.56 per cent, respectively.

Bajaj Auto had reported a decline of 14.69 per cent in motorcycle sales at 2,78,703 units last month.

It had sold 3,26,727 units in November, 2012.

In the commercial vehicles category, the company said its sales stood at 31,888 units as against 45,566 units in November last year - a decline of 30 per cent.

Shares in Bajaj Auto, on Tuesday, ended at Rs 1,981.35 apiece on the BSE, up 1.91 per cent from the previous close.