 "Bajaj Finance gains on fixing record date for bonus, stock split")
Bajaj Finance was up nearly 4% to Rs 11,165 on the BSE after the company fixed September 10, 2016 as record date for sub-division of equity shares & bonus issue.
“The board of directors of the company has, at its meeting held August 30, 2016, fixed September 10, 2016 (end of Day) as the record date for determining members eligible to receive equity shares of face value of Rs 2 each upon sub-division of equity shares of the company of face value of Rs. 10 each,” Bajaj Finance said in a statement.
The shareholders also get fully paid up bonus equity shares of face value of Rs 2 each in the proportion of one bonus equity share for every one equity share of face value of Rs 2 (i.e. as adjusted for sub-division of equity shares), it added.
The stock will turn ex-bonus and ex-stock split on September 8, 2016.
Since July 26, the stock has outperformed the market by gaining 24% from Rs 8,978, after the board approved the bonus issue and stock split. The S&P BSE Sensex was up 1.5% during the same period. The stock hit a record high of Rs 11,760 on August 2, during intra-day trade.
At 02:46 pm, it up 3% at Rs 11,094 on the BSE, against 0.56% rise in the benchmark index. A combined 150,069 shares changed hands on the counter on the BSE and NSE.
“The board of directors of the company has, at its meeting held August 30, 2016, fixed September 10, 2016 (end of Day) as the record date for determining members eligible to receive equity shares of face value of Rs 2 each upon sub-division of equity shares of the company of face value of Rs. 10 each,” Bajaj Finance said in a statement.
The shareholders also get fully paid up bonus equity shares of face value of Rs 2 each in the proportion of one bonus equity share for every one equity share of face value of Rs 2 (i.e. as adjusted for sub-division of equity shares), it added.
The stock will turn ex-bonus and ex-stock split on September 8, 2016.
Since July 26, the stock has outperformed the market by gaining 24% from Rs 8,978, after the board approved the bonus issue and stock split. The S&P BSE Sensex was up 1.5% during the same period. The stock hit a record high of Rs 11,760 on August 2, during intra-day trade.
At 02:46 pm, it up 3% at Rs 11,094 on the BSE, against 0.56% rise in the benchmark index. A combined 150,069 shares changed hands on the counter on the BSE and NSE.