Shares of Bajaj Finance Ltd (BFL) raced to a fresh 52-week high after the company announced that its board of directors would at its meeting on January 15 consider a proposal for a rights issue.
In a statement to the stock exchanges, BFL said its board would also consider the size of the proposed issue, ratio, issue price and the record date.
The share touched a new yearly high of Rs 1,432 on the BSE today but has retraced to Rs 1,394.80, a gain of Rs 19.85 by about 1.15 pm.