Bajaj Finserv rallies ~4.5% as stock trades ex-date for 1:5 split and 1:1 bonus

13 Sep 2022 , 01:14 PM

Bajaj Finserv Limited’s counter was trading about 4.5% higher so far in today’s trade as the company’s shares were trading ex-date for 1:5 stock split and 1:1 bonus share.

The company has set September 14, 2022, as the ‘Record Date’ for identifying members, eligibility for sub-division of existing equity shares, and the issuance of bonus equity shares.

On July 28, 2022, the board of directors of Bajaj Finserv approved the split of one existing equity share with a face value of Rs5 into five fully paid-up equity shares with a face value of Rs1. The board also authorized the issuance of one bonus equity share with a face value of Rs1 for every one equity share held in the company with a face value of Rs1.

The company and its subsidiaries have developed greatly in terms of business and performance over the years, according to the management, which explained the rationale for the split and the issuance of bonus shares.

Bajaj Finserv surged 55% in the last two months, compared to a 13% rise in the S&P BSE Sensex.

At around 1.19 PM, Bajaj Finserv was trading at Rs1,787.25 apiece, up by 4.17% from its previous closing of Rs1,715.78 on the BSE. The scrip touched intraday high and low of Rs1,846 and Rs1,750.15 respectively. 

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