Bajaj Finserv advances after good Q2 result

Bajaj Finserv gained 2.27% to Rs 1,866.35 at 11:46 IST on BSE after consolidated net profit rose 39.6% to Rs 441.13 crore on 34.9% rise in total income to Rs 2223.80 crore in Q2 September 2015 over Q2 September 2014.

The result was announced after market hours yesterday, 20 October 2015.

Meanwhile, the S&P BSE Sensex was up 112.24 points or 0.41% at 27,419.07

On BSE, so far 8,799 shares were traded in the counter as against average daily volume of 11,803 shares in the past one quarter.

The stock hit a high of Rs 1,890.45 and a low of Rs 1,841.40 so far during the day. The stock had hit a record high of Rs 2,160 on 4 August 2015. The stock had hit a 52-week low of Rs 1,005 on 22 October 2014.

The stock had underperformed the market over the past one month till 20 October 2015, falling 0.78% compared with 4.15% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 6.73% as against Sensex's 3.92% decline.

The large-cap stock has equity capital of Rs 79.56 crore. Face value per share is Rs 5.

Bajaj Finserv said that during the current half year ended 30 September 2015, Bajaj Allianz Life Insurance Company has transferred surplus in the policyholders' revenue based on its audited interim financial statements and to the extent permissible as per the applicable regulations, to the shareholders' account as against the past practice of transferring such surplus at the close of the financial year. Consequently, the numbers for the corresponding periods are not comparable, Bajaj Finserv said.

Bajaj Finserv is the holding company for the various financial services businesses under the Bajaj group. The company participates in financing business through Bajaj Finance in which it has 57.53% holding as on 30 September 2015 and in the protection business through Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company, in both of which it has a 74% holding.

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