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MUMBAI: The Bajaj Group is sitting on a cash reserve of Rs 29,000-crore, its patriarch, Rahul Bajaj , today said.
"The Bajaj Group is sitting on a cash reserve of Rs 29,000-crore. We are a conservative company when it comes to spending money, but we are happy with it," its patriarch and member of the Rajya Sabha, Rahul Bajaj, told reporters at an event held at the Indian Merchants' Chamber (IMC) here.
Of this Rs 29,000-crore, the holding company has a cash reserve of Rs 23,000-crore, Bajaj Auto Rs 5-6-crore and Bajaj Finserv Rs 2,000-crore.
The group's current market cap is currently around Rs 60,000-crore, he said.
Asked about the country's GDP growth this fiscal, Bajaj said that with a good monsoon this year, GDP growth looks positive at 8.5 per cent.
"The country will continue to grow by at least 8.5 per cent unless there is some adverse condition that will restrict it," he said.
"The high food inflation is a matter of concern," he said, adding, however, that "it should come down by March 31, 2011."
Food inflation fell by 0.20 percentage points to 16.24 per cent during the week ended September 25, from 16.44 per cent in the previous week, according to Government data.
Source:Bajaj group sitting on cash reserve of Rs 29,000 crore: Rahul Bajaj - The Economic Times
"The Bajaj Group is sitting on a cash reserve of Rs 29,000-crore. We are a conservative company when it comes to spending money, but we are happy with it," its patriarch and member of the Rajya Sabha, Rahul Bajaj, told reporters at an event held at the Indian Merchants' Chamber (IMC) here.
Of this Rs 29,000-crore, the holding company has a cash reserve of Rs 23,000-crore, Bajaj Auto Rs 5-6-crore and Bajaj Finserv Rs 2,000-crore.
The group's current market cap is currently around Rs 60,000-crore, he said.
Asked about the country's GDP growth this fiscal, Bajaj said that with a good monsoon this year, GDP growth looks positive at 8.5 per cent.
"The country will continue to grow by at least 8.5 per cent unless there is some adverse condition that will restrict it," he said.
"The high food inflation is a matter of concern," he said, adding, however, that "it should come down by March 31, 2011."
Food inflation fell by 0.20 percentage points to 16.24 per cent during the week ended September 25, from 16.44 per cent in the previous week, according to Government data.
Source:Bajaj group sitting on cash reserve of Rs 29,000 crore: Rahul Bajaj - The Economic Times
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