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Bloomberg Quint
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Bajaj Finance Share Price Swings As Stock Trades Ex-Split
- Bajaj Finance's share price fluctuated as the stock traded ex-split, initially rising 2.45% then falling 0.81%.
- The company split its shares from Rs 2 to Rs 1 face value, rewarding shareholders with a windfall, converting 10 shares into 100.
- Stock splits increase outstanding shares, enhancing liquidity, without altering the total investment value.
- Investors were required to hold shares by the June 13 record date to qualify for the stock split and bonus issue.
- Bajaj Finance's share price reached Rs 956 before dropping to Rs 925.50, later trading 0.55% lower at Rs 927.
- The stock has declined significantly year-to-date, down 86.35%, and 87.32% in the last 12 months.
- Analysts' ratings show 22 'buy', 12 'hold', and 5 'sell' recommendations for Bajaj Finance, with a 1.4% upside in the 12-month price target.
- The NSE Nifty 50 rose by 0.02% while Bajaj Finance traded at a relative strength index of 73.08.
- The company's shares traded at nine times the 30-day average volume.
- Despite the share price fluctuations, Bajaj Finance continues to garner interest from analysts and investors.
- Bajaj Finance's share split and bonus issue have impacted trading sentiments.
- The company's share price performance indicates a notable decline in recent times.
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