Fund raising plan boosts Bajaj Finance

Bajaj Finance gained 1.17% to Rs 3,327.70 at 09:17 IST on BSE after the company scheduled a board meeting on 17 September 2019 to consider proposal for raising of funds by way of qualified institutions placement.

The announcement was made after market hours yesterday, 5 September 2019.

Meanwhile, the S&P BSE Sensex was up 159 points or 0.43% to 36803.21.

On the BSE, 730 shares were traded in the counter so far compared with average daily volumes of 1.08 lakh shares in the past one quarter. The stock hit a high of Rs 3,327.70 and a low of Rs 3,315.15 so far during the day.

The stock hit a 52-week high of Rs 3,761.35 on 05 July 2019. The stock hit a 52-week low of Rs 1,912 on 08 October 2018.

The large cap company has equity capital of Rs 115.98 crore. Face value per share is Rs 2.

Bajaj Finance's consolidated net profit rose 42.99% to Rs 1195.25 crore on 47.5% rise in total income to Rs 5808.29 crore in Q1 June 2019 over Q1 June 2018.

Bajaj Finance is one of the leading non-banking financial corporations in India. The company's product offering includes consumer durable loans, lifestyle finance, digital product finance and personal loans.

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