Bonus Issue: This multibagger stock has gained over 9 per cent on 28 July

Both the companies reported a robust Q1FY23 performance and one of them proposed a stock split and bonus issue of shares.

The shares of Bajaj Finance and Bajaj Finserve are buzzing on the bourses today. Their share prices are up by more than 9 per cent each. 

Bajaj Finserv Ltd, a part of S&P BSE Sensex, is the country's most diversified non-banking financial services company (NBFC). Today, Bajaj Finserv reported its results for the quarter ended June 2022. The company’s consolidated total income grew 14 per cent YoY to Rs 15,888 crore. Similarly, the consolidated PAT increased by 57 per cent YoY to Rs 1,309 crore.

Bajaj Finance Ltd (BFL), a subsidiary of Bajaj Finserv, reported its Q1FY23 results yesterday. BFL’s total consolidated income for Q1FY23 increased by 38 per cent to Rs 9,283 crore, whereas PAT increased by 159 per cent to Rs 2,596 crore. Today, Bajaj Finserv announced a stock split and bonus issue of shares. As per the exchange filing, the Board of Directors of Bajaj Finserv Limited has considered and approved the sub-division of equity shares of the face value of Rs 5 each to Rs 1 each and the issue of one fully paid bonus equity share of the face value of Rs 1 each against one equity share of the face value of Rs 1 each. This is subject to shareholders' approval. 

Owing to this announcement, as of 12.52 pm, the share price of Bajaj Finserv Ltd is up by 9.23 per cent to Rs 14,530.45.