Bajaj Finserv Gains Most In 11 Months On Share-Split Plan Ahead Of Q1 Results

Shares of Bajaj Finserv gained on the company's stock split plan.

The board of directors at its meeting on July 28 will consider a proposal for sub-division of equity shares of the company of face of Rs 5 each, according to an exchange filing after market hours on Monday.

It will also consider a plan to issue of fully-paid bonus equity shares to the members of the company. Besides, the company will approve unaudited financial results for the quarter ended June on Thursday.

Shares of Bajaj Finserv rose as much as 7.36% in intraday trade before closing with 5.5% gains, the best day in 11 months.

• The trading volume was more than quadruple the 30-day average.

• Of the 10 analysts tracking the company, eight maintain a 'buy' and two recommend a 'sell', according to Bloomberg data.

• The 12-month consensus price target implies an upside of 18.2%.

• The stock has shed 1.6% so far in 2022, compared to 5% losses for the Nifty 50.