Bajaj Finserv rises after robust Q4 outcome

Bajaj Finserv rose 0.38% to Rs 7,655.55 at 09:20 IST on BSE after consolidated net profit rose 31.66% to Rs 838.74 crore on 43.5% rise in total income to Rs 12995.47 crore in Q4 March 2019 over Q4 March 2018.

The result was announced after market hours yesterday, 16 May 2019.

Meanwhile, the S&P BSE Sensex was up 190.21 points or 0.51% at 37,583.69

On BSE, so far 3,821 shares were traded in the counter as against average daily volume of 11,000 shares in the past two weeks. The stock hit a record high of Rs 7,685 and a low of Rs 7,590.05 so far during the day.

During the year, the three key companies - Bajaj Finance (BFL), Bajaj Allianz General Insurance Company (BAGIC) and Bajaj Allianz Life Insurance Company (BALIC) have operated well. As before, BFL performed brilliantly. Though BAGIC's profit was adversely affected due to floods in Kerala, it recorded industry beating growth. BALIC recorded all round improvement with industry beating growth in individual premiums supported by improvements in persistency and new business value.

Bajaj Finserv (BFS) is the holding company for the various financial services businesses under the Bajaj group. BFS participates in the financing business through its 54.99% holding in Bajaj Finance (BFL), 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).

Powered by Capital Market - Live News