Bajaj Finserv shares trade ex-split; gain most on Sensex, Nifty

Shares of Bajaj Finserv were the top Sensex and Nifty gainers today after the stock turned ex-split today. Additionally, the firm was also trading ex-bonus that was announced in the ratio of 1:1. On Sensex, Bajaj Finserv stock gained 7.59 per cent to Rs 1,846 against the previous close of Rs 1,715. On Nifty, stock of Bajaj Finserv rose 7.64 per cent to Rs 1,844. It was the top gainer on Nifty. Bajaj Finserv shares opened with a gain of 2.4 percent at Rs 1,757 on BSE today. Bajaj Finserv stock is trading lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.

ALSO READ: Bajaj Finserv stock split: Here's what Zerodha founder Nithin Kamath said

The stock has gained 5.79 per cent in one year and climbed 9.27 per cent in 2022. In a month, the Bajaj Finserv stock has climbed 13.56 per cent. Total 4.13 lakh shares of the firm changed hands amounting to a turnover of Rs 74.64 crore on BSE.

Market cap of the firm rose to Rs 2.85 lakh crore on BSE. The stock hit a 52-week high of Rs 1,932 on October 19, 2021 and a 52 week low of Rs 1,077.70 on July 1, 2022. The company on July 28 this year said its board of directors announced a stock split and bonus issue of equity shares. Board of the company cleared the sub-division of equity shares in 1:5 ratio.

ALSO READ: Bajaj Finserv shares climb 10% after board announces stock split, bonus issue

This means each share of Bajaj Finserv having a face value of Rs 5 will be split into five shares with a face value of Re 1 each. An issue of bonus shares has also been announced.  Bonus shares with a face value of Re 1 each for every full paid-up equity share of Re 1 will also be issued.

Reacting to the development, Bajaj Finserv shares touched an intraday high of Rs 14,579.95, rising 9.6 per cent on July 28 on BSE. On Nifty, stock of Bajaj Finserv rose 9.35 percent to Rs 14,551 in the afternoon session.

Bajaj Finserv is the holding company for the various financial services businesses under the Bajaj Group. The company is engaged in the business of promoting financial services such as finance, insurance, and wealth management, through its investments in subsidiaries and joint ventures. It is also engaged in the business of generating power through wind turbines, a renewable source of energy. Its segments include life insurance, general insurance, windmill, retail financing, and investments and others.