Bajaj Finance retracts from record high

Bajaj Finance lost 3.01% to Rs 2220 at 14:48 IST on BSE, with the stock sliding on profit booking after recent steep rally.

Meanwhile, the S&P BSE Sensex was up 82.74 points or 0.32% at 26,044.80.

On BSE, so far 5,812 shares were traded in the counter as against average daily volume of 5,486 shares in the past two weeks.

The stock was volatile. The stock rose as much as 3.53% at the day's high of Rs 2,370 so far during the day, which is a record high for the counter. The stock lost as much as 3.65% at the day's low of Rs 2,205.30 so far during the day. The stock had hit a 52-week low of Rs 965.50 on 29 August 2013.

Shares of Bajaj Finance had rallied 14.6% in five trading sessions to settle at Rs 2,289 on Friday, 4 July 2014, from a recent low of Rs 1,997.25 on 27 June 2014.

Bajaj Finance's net profit rose 11.2% to Rs 182.09 crore on 30.1% growth in total income to Rs 1095.02 crore in Q4 March 2014 over Q4 March 2013.

Bajaj Finance offers secured and unsecured loan. The company provides two-and-three wheeler loan, consumer durable loan, personal loans, loan against property, small business loans, construction equipment loan and loan against securities.

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