Stock On The News: Bajaj Finance is making headlines in today's trading session, and here's the scoop: The company is gearing up for a significant fund-raising move, with a board meeting scheduled for October 5th to discuss various methods, including a preferential issue and a Qualified Institutional Placement (QIP). This marks a notable event as it's the first time in four years that Bajaj Finance is looking to raise capital. According to Jefferies, the company is well-capitalized, boasting a tier-1 CAR of 23%. They believe this fund-raising initiative is a proactive move to support robust Asset Under Management (AUM) growth and is coming ahead of expectations. Meanwhile, CLSA views this capital raise as a sign for stronger-than-anticipated medium-term loan growth. Jefferies speculates that the issue size could be around ₹8,000 crore, with a potential 2% dilution, while forecasting a rise in earnings and book value per share for FY24. With such positive sentiments from analysts, Bajaj Finance remains a top pick in the non-banking financial sector for Jefferies. For more such insights, listen in!
#bajajfinance #bajajfinancefy24 #stockinthenews
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