Bajaj Finserv hits record high

Bajaj Finserv rose 2.40% to Rs 12626.65, resuming its uptrend after a day's pause.

The stock gained 2.47% to hit the day's high at Rs 12331.15, which is also a record-high for the counter. On the BSE, 0.51 lakh shares of the company were traded in the counter so far as against a average trading volume of 0.14 lakh shares.

The scrip had shed 0.31% to end at Rs 12,331.15 on the BSE on Thursday.

On a year-to-date (YTD) basis, the stock has zoomed 41.63% while the benchmark Sensex has added 9.65% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 64.413. 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 simple moving average (SMA) placed at 11727.12, 10786.56 and 9296.19, respectively.

Bajaj Finserv is the holding company for the various financial services businesses under the Bajaj group. It participates in the financing business through its 52.74% holding in Bajaj Finance and in the protection business through its 74% holding in two unlisted subsidiaries, Bajaj Allianz General Insurance Company (BAGIC) and Bajaj Allianz life Insurance Company (BALIC). Bajaj Housing Finance (BHFL), which does mortgage business, is also a wholly-owned subsidiary of Bajaj Finance.

The company's consolidated net profit surged 403% to Rs 979 crore on 15.74% rise in total income to Rs 15,387.25 crore in Q4 FY21 over Q4 FY20.

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