Bajaj Holdings Buys Stakes In TCS, Mphasis, Bharti Airtel For Rs 29 Crore
This is BHIL's first equity acquisition in Tata Consultancy Services.
Bajaj Holdings & Investment Ltd. acquired stakes in Mphasis Ltd., Tata Consultancy Services Ltd. and Bharti Airtel Ltd. on Thursday for a total consideration of Rs 28.6 crore, according to an exchange filing.
The investment company acquired a 0.0079% stake in Mphasis for Rs 4.44 crore. This is the second consecutive day that BHIL acquired a stake in the IT services firm. On Wednesday, it had bought a 0.0502% stake for Rs 28.9 crore, the filing stated.
With the latest acquisition, BHIL's cumulative investment in Mphasis has risen to Rs 70.9 crore and it holds a stake of 0.1585% in total, it said.
The company has also invested Rs 15.7 crore in Airtel for a 0.0016% stake. BHIL's stake in the telecom firm has risen to 0.0362% and it has invested Rs 152.4 crore so far.
As the equity acquisition in TCS for Rs 8.52 crore is its first, the investment firm's total stake in the IT firm stood at 0.0006%.
BHIL did not invest in any of the companies with the intention to acquire them.
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Earlier in the month, the investment firm had acquired a 0.0013% stake in HDFC Bank Ltd. for Rs 17.2 crore. As a result of that transaction, its stake in the private lender rose to 0.0740%.
Shares of BHIL closed 1.13% higher at Rs 10,323.10 apiece on the BSE, compared to a 1.48% decline in the benchmark Sensex.
The share price of Airtel closed 1.12% lower at Rs 1,560.35 apiece, while that of TCS and Mphasis ended 1.94% and 1.9% lower respectively.
