Bajaj Finance Shares Surge 3.5% as Company Plans Fundraising Move

Bajaj Finance shares jumped on Monday after the company said it will consider raising funds through preferential issuance of shares and qualified institutional placement (QIP). The stock gained by Rs 264.5, or 3.5%, to touch Rs 7,737 apiece at the strongest level of the day so far. The move to raise capital comes after a gap of four years in a sign of stronger-than-expected medium-term loan growth and will help the company drive its long-term growth.