The stake holding of Bajaj Auto (Q,N,C,F)* in Austria`s power bike company KTM Power Sport will be increased in the coming years to leverage on the foreign company`s superior expertise in technology and brand name, reports Business Standard.

Bajaj Auto, through its 100% Dutch subsidiary, Bajaj Auto International Holding BV, will buy the additional stakes in the Vienna Stock Exchange-listed KTM on-behalf of the company.

The company has so far spent Rs 7-8 billion in buying 31.72% stake in KTM..

KTM will form a crucial part of Bajaj Auto`s overseas strategy, including merger and acquisition, as the European company brings with it intricate knowledge of key overseas markets like Europe and North America.

Shares of the company closed up Rs 11, or 1.09%, at Rs 1,023. The total volume of shares traded at the BSE was 6,651 (Monday).