Bajaj Finance strikes record high on rights issue plan

The announcement was made during market hours today, 10 January 2013.

Meanwhile, the BSE Sensex was down 24.56 points or 0.12% at 19,642.03.

On BSE, 14,792 shares were traded in the counter as against average daily volume of 14,216 shares in the past one quarter.

The stock hit a record high of Rs 1,432 in intraday trade today, 10 January 2013. The stock hit a low of Rs 1,372 so far during the day. The stock had hit a 52-week low of Rs 613 on 10 January 2012.

The stock had outperformed the market over the past one month till 9 January 2013, rising 3.46% compared with the Sensex's 1.25% rise. The scrip also outperformed the market in past one quarter, surging 16.39% as against Sensex's 4.65% rise.

The mid-cap company has equity capital of Rs 42.81 crore. Face value per share is Rs 10.

Bajaj Finance said that a meeting of the board of directors of the company will be held on Tuesday, 15 January 2013, to consider proposal for issue of rights equity shares. Also the board will consider size of the proposed issue of rights shares, issue price and fix the record date for determining the eligible equity shareholders who would be entitled to the rights shares.

Bajaj Finance will declare Q3 December 2012 earnings on Tuesday, 15 January 2013. The company's net profit jumped 47.3% to Rs 128.72 crore on 49.3% growth in total income to Rs 736.66 crore in Q2 September 2012 over Q2 September 2011.

Bajaj Finance offers secured and unsecured loan. The company provides two-and-three wheeler loan, consumer durable loan, personal loans, loan against property, small business loans, construction equipment loan and loan against securities.

Powered by Capital Market - Live News