Bajaj Auto Fin gains currency on fund raising proposal

DALAL STREET SPIKES

The Bajaj Auto Finance scrip was up 10 per cent to Rs 398.90 after the company said that it is considering to raise funds. In yesterday's weak market the scrip closed at Rs 362.65.

The scrip witnessed a sharp rally in mid-September where it went up 38.4 per cent from Rs 282.70 on 9 September 2005 to Rs 391.40 on 20 September 2005.

The company's board of directors meeting on 13 October 2005 will decide the means of raising funds and will also take up the proposal for a hike in authorised share capital.

For Q1 June 2005, the company reported 27.8 per cent growth in net profit to Rs 11.51 crore.