Bajaj Finance hits record high, climbs 9% in four days

Bajaj Finance rose 2.10% to Rs 6682.10, advancing for the fourth day in a row.

The stock has gained 8.54% in four sessions from its recent closing low of Rs 6,156.55 on 13 August 2021.

The scrip hit the day's high of Rs 6,730.90, which is a record high for the counter.

The scrip has zoomed 122.08% from its 52-week low of Rs 3008.85 hit on 24 September 2020.

On the technical front, the stock's RSI (relative strength index) stood at 71.941. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day, 100-day and 200-day daily simple moving average (SMA) placed at 6168.48, 5739.13 and 5368.35, respectively.

Bajaj Finance is engaged in lending and allied activities. It focuses on consumer lending, small and medium-sized enterprises (SME) lending, commercial lending, rural lending, fixed deposits and value-added services.

The NBFC reported 4% rise in consolidated net profit to Rs 1,002 crore on 1% increase in total income to Rs 6,743 crore in Q1 FY22 over Q1 FY21.

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