Bajaj Auto rebounds over 4% after workers demanded allotment of equity share

Posted By: Religare
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Shares of country's leading two wheeler manufacturer Bajaj Auto jumped over 4 per cent in early trade on Bombay Stock Exchange (BSE) after workers at the Chakan plant in Pune demanded that the company should allot 500 shares each to all workers at a price of 1 per share.

At the current price of Rs 1,788 per share, the union is demanding that stock worth Rs 83 crore be issued to about 925 workers for a total consideration of Rs 4.6 lakh.

Tracking news, shares of company gained as much 4.48 per cent to trade at Rs 1,867.45 a piece on the BSE.

In a similar fashion, shares of the company were trading at 1,844.50 a piece, up 3.21 per cent on the National Stock Exchange (NSE).

Meanwhile, the broader benchmark Sensex was quoting at 18,718.75, up 163.63 points or 0.90 per cent at 10:00 hours.

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