Bajaj Finserv Shares Advance on Report Buffett May Buy Stake
By Pooja Thakur
June 9 (Bloomberg) -- Bajaj Finserv Ltd. rose as much as 10 percent after VCCircle reported that Warren Buffett's Berkshire Hathaway Inc. may invest in the Indian financial services company.
Bajaj Finserv, which denied it is in talks, jumped 8.1 percent to 484.25 rupees as of 10:29 a.m. in Mumbai trading.
"We are neither in touch with anybody from Berkshire Hathaway nor are we aware of their interest in Bajaj Finserv," Managing Director Sanjiv Bajaj said in an e-mail today.
Berkshire may buy a 5 percent to 10 percent stake in Bajaj Finserv from the stock market, VCCircle reported, without saying where it obtained the information. Bajaj Finserv is the holding company of Bajaj Allianz Life Insurance Co. and Bajaj Allianz General Insurance Co.
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