Bajaj Finance to consider stock split, bonus issue; shares hit new all-time high

By: | Updated: July 11, 2016 4:18 PM

Bajaj Finance shares hit their new all-time high on Monday after the company announced that the board will consider sub-division of equity shares and bonus issue in the upcoming board meeting of July 26.

Sensex, Nifty, BSE, NSE, bajaj financeBajaj Finance shares hit their new all-time high on Monday after the company announced that the board will consider sub-division of equity shares and bonus issue in the upcoming board meeting of July 26.

Bajaj Finance shares hit their new all-time high on Monday after the company announced that the board will consider sub-division of equity shares and bonus issue in the upcoming board meeting on July 26.

At 1.41 pm, shares of Bajaj Finance were trading 5.32 per cent up at Rs 8,625.15. The scrip opened at Rs 8,200 and has touched a high and low of Rs 8,703 and Rs 8,200, respectively, in trade so far. Later, the scrip settled 4.67 per cent up at Rs 8571.55.

In a BSE filing, Bajaj Finance said, “the board may consider sub-division of equity shares of the company of face value of Rs 10 each, and/or issue of fully-paid bonus equity shares to the members of the company.”

Earlier, on June 27, the company said that a meeting of the board of directors of the company will be held on July 26, 2016, to take on record the unaudited financial results for the quarter ended June 30, 2016 (Q1).

For the quarter ended March 31, 2016, Bajaj Finance reported net profit of Rs 315.04 crore, up 36.39 per cent, against Rs 230.98 crore in the corresponding quarter a year ago.

In the past one year, shares of Bajaj Finance soared 56.47 per cent to Rs 8189.10 on July 8. The scrip was trading at Rs 5233.55 on the same day a year ago.

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