Bajaj Finance has surged 7.5% to Rs 1,216, extending its previous day’s nearly 8% rally, after the foreign investor Acacia II Partners LP bought more than three lakh shares of non-banking finance company for Rs 33 crore.
On Monday, Acacia II Partners LP bought 3,00,803 shares of Bajaj Finance at an average price of Rs 1,100 per share through open market transaction, according to information available with the stock exchanges. However, buyer of the shares could not be ascertained.
Bajaj Finance, a subsidiary of Bajaj Finserv, is engaged in the business of consumer finance, SME finance and commercial lending. Bajaj Finserv proposes to convert Bajaj Finance into a bank as per the Reserve Bank of India’s February 2013 guidelines.
The stock opened at Rs 1,140 and hit high of Rs 1,236 on BSE. A combined 29,356 shares changed hands on the counter so far on BSE and NSE.
On Monday, Acacia II Partners LP bought 3,00,803 shares of Bajaj Finance at an average price of Rs 1,100 per share through open market transaction, according to information available with the stock exchanges. However, buyer of the shares could not be ascertained.
Bajaj Finance, a subsidiary of Bajaj Finserv, is engaged in the business of consumer finance, SME finance and commercial lending. Bajaj Finserv proposes to convert Bajaj Finance into a bank as per the Reserve Bank of India’s February 2013 guidelines.
The stock opened at Rs 1,140 and hit high of Rs 1,236 on BSE. A combined 29,356 shares changed hands on the counter so far on BSE and NSE.
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