Bajaj Finance share climbed over 2 percent today after the non-banking finance company said its board will consider a fundraising plan at its meeting next week. The stock touched an intraday high of Rs 7869.9, rising 2.62% on BSE. Bajaj Finance stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The large cap stock has gained 54.57% in one year and risen 11.73% since the beginning of this year. Total 0.27 lakh shares of the firm changed hands amounting to a turnover of Rs 21.22 crore on BSE.
Market cap of the NBFC rose to Rs 4.69 lakh crore. The share hit 52-week high of Rs 8,020 on October 18,2021 and 52 week low of Rs 4,361 on April 19,2021.
A meeting of the board of directors of Bajaj Finance will be held on January 18, 2022, to consider the unaudited financial results for the quarter and nine months ended December 31, 2021.
The board will also consider raising of funds by debt issue/issue of non-convertible debentures as a part of the proposed increase in the overall borrowing limit, pursuant to Section 180(1)(c) of the Companies Act, 2013, subject to approval of the shareholders, the firm said.
Bajaj Finance reported a 53 per cent rise in consolidated net profit at Rs 1,481 crore for the quarter ended September on healthy interest income. The non-banking finance company had reported a net profit of Rs 965 crore in the same quarter of the previous fiscal.
Total income rose 19 per cent to Rs 7,732 crore in Q2 against Rs 6,520 crore in the corresponding quarter of FY21.