Corporate
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Restructuring
De-merger a four-year-old issue, says Bajaj
Our Bureau
MR RAHUL BAJAJ
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Pune
Feb. 9
Mr Rahul Bajaj, Chairman, Bajaj Auto Ltd, dismissed reports that disagreement between his sons Mr Rajiv Bajaj and Mr Sanjiv Bajaj would cause the company to split. Pointing out that the demerger was anyway being considered, Mr Bajaj said: "It's a four-year-old issue. What's new in that? And when there is an old issue, some day, something is going to happen."
Reacting to the timing, he said: "They ask me, why now? I ask, why not now? It is a price sensitive issue. Within the next six to eight months, we will put it up to the board, inform the SEBI under clause 49 and then talk about it."
Stock Rally
Speaking to Business Line, Mr Bajaj added: "Rajiv and Sanjiv are not clones of each other. They do have disagreements. It's good for the company. Rajiv and I also have disagreements. My wife also does not agree with me sometimes. So are we headed for a split? We are a joint family. We all love each other."
Bajaj company shares meanwhile rallied on the stock exchange today hitting a high of Rs 3,171.90 before closing at Rs 3,047.10, a net gain of 1.29 per cent over Thursday's close of Rs 3,008.25.
Talking about Rs 8,000 crore of surplus cash, Mr Bajaj said that there was nothing surprising about the rally as it merely unlocked value, and eventually the shareholder would benefit.
More Stories on :
Restructuring |
Corporate Disputes |
Two/Three Wheelers |
Bajaj Auto Ltd
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