Bajaj Hindusthan stake changes ownership

As per the Bajaj family settlement plan, about 39.9 million shares Bajaj Hindusthan Ltd representing 28.2 of its outstanding equity changed hands on Monday in two block deals on the Bombay Stock Exchange BSE at a weighted average price of Rs 64.50 each. The company had earlier said Rahul Bajaj will buy more than 29 stake in it from other promoters on December 30 and later transfer it to his brother Shishir Bajaj as part of the settlement. Bajaj Hindustan shares were up 3.69 to close at Rs 66.10 on the BSE on Tuesday. Bajaj Auto shares, on the other hand, rose 4.64 on the BSE, to end the day at Rs 386.45, in what could be an indication that shareholders welcomed the settlement.