Bajaj Finserv gains on rights issue plans

The board will meet on August 29 to consider and finalize the rights issue price, entitlement ratio and record date for the issue

Bajaj Finsev is trading higher by 2% at Rs 838 the Bajaj Group Company announce rights issue plans.

“The board of directors of the company will meet on August 29, 2012, to consider and finalize the rights issue price, entitlement ratio and record date for the issue,” Bajaj Finserv said in a filing.

The stock opened at Rs 830 and hit a high of Rs 859 on the NSE. A combined 277,418 shares have changed hands on the counter so far on both the exchanges.