Bajaj Finserv stock improved by about 10 per cent on the BSE today amid media reports that legendary investor Warren Buffett-led Berkshire Hathaway is in talks with the company for a possible investment.
However, Bajaj Finserv Ltd in a filing to the Bombay Stock Exchange said that it was neither in touch with Berkshire Hathaway nor was it aware of any plans of theirs to invest into the company.
In a firm broader market, the scrip opened on a strong note and rose by 9.99 per cent to touch the upper trading limit of Rs 493.45 on the BSE. Later, the stock was quoting at Rs 471.90, which was 5.19 per cent higher than the afternoon trade rate.
A similar trend was evident on the National Stock Exchange, where the stock was trading at Rs 471.65, up by 5.30 per cent, after touching an intra-day high of Rs 492.70.
According to media reports, Berkshire Hathaway arm is in preliminary talks with Bajaj FinServ for a possible investment plan in the company.
The legendary investor Warren Buffett, who has till now made only a few investment outside the US, plans to visit India next March and is likely to explore possible investment opportunities in the country.
One of the richest persons in the world, Buffett is the chairman and chief executive of the conglomerate Berkshire Hathaway, which has holdings in diverse firms like Coca-Cola and Swiss Re.
Bajaj Finserv is engaged in life and general insurance businesses through its joint ventures with Allianz SE namely Bajaj Allianz Life Insurance Company and Bajaj Allianz General Insurance.
