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Saturday, January 20, 2001
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India's
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Bajaj Auto to acquire Mukand Engineers shares
Our Corporate Bureau
Mumbai, Jan 19: Bajaj Auto Ltd is planning to acquire 1.20 million equity shares of Rs 10 each of group company, Mukand Engineers Ltd. Bajaj Auto has informed the Bombay Stock Exchange that the number of shares to be acquired constitute approximately 9.5 per cent of the total voting share capital of Mukand Engineers. The shares are being acquired from another group company, namely Mukand Ltd.Speaking to The Financial Express, Bajaj Auto chairman Rahul Bajaj said: "Mukand Ltd is going through a difficult period and this will help in pumping liquidity in the company." The Shah group is also acquiring an equal amount of equity shares of Mukand Engineers Ltd from Mukand Ltd. Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
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