Latest News | Bajaj Group Cos Buy Shares Worth Rs 353 Cr in Mukand

New Delhi, Aug 9 (PTI) Four Bajaj group companies on Monday bought shares worth over Rs 353 crore in Mukand Ltd, through open market transactions.

Bajaj Sevashram Pvt Ltd purchased shares for Rs 94.42 crore, Bachhraj and Company Pvt Ltd Rs 159.27 crore, Bachhraj Factories Pvt Ltd Rs 69.04 crore, and Sanraj Nayan Investments Pvt Ltd Rs 30.87 crore, block deal data on the NSE showed.

Also Read | Mahindra Unveils All-New Brand Logo for Its SUV Portfolio; To Debut on Upcoming XUV700.

The shares were bought at an average price of Rs 153.

The four entities are promoters of Mukand, as per shareholding data for June 2021 quarter.

Also Read | Raer One is East LA's Rising Star.

In separate transactions, certain promoters of the firm had offloaded the scrips at Rs 153 apiece.

The transaction follows an approval by the Competition Commission of India (CCI) for acquisition of certain equity shareholding of Mukand Ltd by Bajaj Group entities.

"Commission approves acquisition of up to 16.57 per cent of equity shareholding of Mukand Limited by Bajaj Group entities in addition to existing shareholding of around 57.70 per cent," it had said in a tweet.

On Monday, Mukand's shares closed at Rs 149.85 apiece on the NSE, down 1.09 per cent. HRS hrs

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)