Shares of Bajaj Finance are trading with gains after the company's board approved fund raising plan through a QIP issue.
The scrip rose 2.42% to Rs 3,447.20. The stock has traded in the range of Rs 3,417.70 and Rs 3,400 so far during the day. On the BSE, 7237 shares were traded in the counter so far compared with average daily volumes of 0.74 lakh shares in the past two weeks.
Bajaj Finance said its board of directors approved raising of capital through a Qualified Institutions Placement (QIP) for an aggregate amount not exceeding Rs 8500 crore by issue of equity shares and/or eligible securities. The announcement was made after market hours yesterday, 17 September 2019.
On a consolidated basis, the NBFC's net profit rose 43% to Rs 1195.25 crore on a 47.5% increase in the net sales to Rs 5808.29 crore in Q1 June 2019 over Q1 June 2018.
Bajaj Finance, a subsidiary of Bajaj Finserv, is an non-banking financial company (NBFC). The company deals in consumer finance, SMEs (small and medium-sized enterprises) and commercial lending, and wealth management.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app