Bajaj Finance Ltd. was incorporated in the year 1987. It is a Large Cap company which has a market cap of Rs 49068.14 Cr. (as on 12th Dec’ 16) and operates in Finance sector.Bajaj Finance share price slipped 5 per cent at Rs. 843.45 today at NSE. The stock settled below 52 points at Rs. 843.60.
Bajaj Finance has alloted more than 92 lakh shares for Rs 408.11 crore to its promoter Bajaj Finserv upon conversion of warrants issued to them on preference basis. The Allotment Committee of the Board of Directors has, at its meeting, allotted 92,50,000 equity shares to the promoter, Bajaj Finserv on conversion of warrants issued to them on preferential basis at a price of Rs 441.20 per warrant, as per Bajaj Finance’s regulatory filing. These number of warrants and exercise price thereof are as adjusted for sub-division of shares and issue of bonus shares in September 2016.
The company will get into housing finance business. Bajaj Housing Finance Limited, the wholly owned subsidiary, has been given the certificate of registration on 24 September 2015 from National Housing Bank to commence housing finance business.
Last month, Private sector lender RBL Bank, has joined hands with non banking finance company Bajaj Finance to launch a series of co-branded credit cards for Indian customers. The first of these credit cards is proposed to be launched in the fourth quarter of FY17.
Bajaj Finance is analyzed by Dynamic Levels as the top 500 performing stocks for this quarter among the 1700 stocks which are listed on the NSE. Bajaj Finance is fundamentally strong and is safe for investment, as per Dynamic analysts.
In order to know about the support and resistance levels of the scrip and also its fundamentals, please visit Bajaj Finance share price history.
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