Bajaj Finance surges on bargain hunting

Bajaj Finance surged 12.15% to Rs 912.90 at 14:43 IST on BSE on bargain hunting after sliding 12.44% in the preceding two trading sessions to settle at Rs 814 yesterday, 15 November 2016, from its close of Rs 929.60 on 10 November 2016.

Meanwhile, the S&P BSE Sensex was up 130.21 points or 0.5% at 26,434.84

On BSE, so far 5.03 lakh shares were traded in the counter as against average daily volume of 85,337 shares in the past one quarter. The stock hit a high of Rs 942 and a low of Rs 805.10 so far during the day. The stock had hit a record high of Rs 1,180 on 8 September 2016. The stock had hit a 52-week low of Rs 517.50 on 18 November 2015. The stock had underperformed the market over the past 30 days till 15 November 2016, falling 24.55% compared with 4.45% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 20.12% as against Sensex's 6.07% decline.

The large-cap company has equity capital of Rs 107.74 crore. Face value per share is Rs 10.

Bajaj Finance's net profit rose 45.95% to Rs 407.76 crore on 39.13% growth in total income to Rs 2365.98 crore in Q2 September 2016 over Q2 September 2015.

Bajaj Finance is a diversified non-banking financial company.

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