Bajaj Finserv shares surge; extends gains for sixth session

NEW DELHI: Bajaj Finserv rallied 5.74% to close at 16,828 on the BSE on Wednesday. It extended gains for the sixth trading session. It was the top gainer on the NSE and the BSE.
Last month, the company's board of directors said they would consider the proposal for a stock split of the company's equity shares. Through stock split, a company increases its number of outstanding shares while reducing the price of each share without affecting the firm's overall market capitalisation.
It reported a 57 per cent jump in net profit at Rs 1,309 crore in the first quarter ended June 30, on healthy earnings by its subsidiary companies.In the year-ago period, the company had posted a net profit of Rs 833 crore.
Company's consolidated total income during April-June period of 2022-23 was up 14 per cent to Rs 15,888 crore, Bajaj Finserv said in a regulatory filing.
Bajaj Finserv said the business conditions improved significantly in the first quarter of FY23 and its consolidated assets under management (AUM) crossed a milestone of Rs 2,00,000 crore during this period and stood at Rs 2,04,018 crore.
(With inputs from agencies)