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Last Updated : Mar 14, 2019 01:24 PM IST | Source: Moneycontrol.com

Bajaj Consumer Care rises 2% after company hires global management consultant

Bain will help Bajaj Consumer Care in formulating a front-end strategy for growth and also help in implementing it

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Bajaj Consumer Care shares gained another 2 percent intraday on March 14 after the company hired a global management consultant for growth strategies.

The stock was quoting at Rs 331, up Rs 2.55, or 0.78 percent on the BSE, at 1321 hours IST.

The erstwhile Bajaj Corp informed exchanges that it has engaged the services of Bain & Company.

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"Bain will help Bajaj Consumer Care in formulating a front-end strategy for growth and also help in implementing it," it said.

On March 13, the stock rallied 3.73 percent after promoter Bajaj Resources sold nearly 7 percent stake in the company through open market transaction. Analysts said the reason for stake sale could be to reduce the burden of pledged shares.

 

The company has high promoter pledge which is at 70.42 percent of total promoter stake which was reduced to 62.8 percent of promoter stake till date. Now total promoter shareholding fell below 60 percent.

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First Published on Mar 14, 2019 01:24 pm
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