Bajaj Finance stock sinks 4.6% s on QIP closure: Stock Market Trading Tips

stock trading tips Shares of Bajaj Finance Limited tumbled 4.6 % since the company has decided to issue the shares at Rs 1,690 per equity share at the closure of qualified institutional placement (QIP) today, 8 Sept 2017. The price of Rs 1690 includes a premium of Rs 1688 /share from its face value of Rs 2.00, is at a discount of 4.6 percent or Rs 81.9 to the floor price of Rs 1,771.90 per equity share. The stock of the Bajaj Finance declined to the extent of 3.87% to the day’s low of Rs 1 883 following the announcement on BSE today.

Stock Close: The BSE Sensex ended at 31,688, up 25 points, while the NSE Nifty50 settled at 9,935, up 5 points. The BSE Mid-Cap index fell 0.44% and the Small-Cap index fell 0.14%. Both these indices underperformed the Sensex. HDFC Bank, L&T, and ITC helped the market close higher but stocks of Infosys and HDFC capped upside.