Bajaj Finserv scales record high after robust Q1 result

Bajaj Finserv gained 2.4% to Rs 6,458.15 at 09:51 IST on BSE after consolidated net profit rose 49.38% to Rs 1328.52 crore on 16.4% rise in total income to Rs 8771.21 crore in Q1 June 2018 over Q1 June 2017.

The announcement was made after market hours yesterday, 19 July 2018.

Meanwhile, the S&P BSE Sensex was up 119.94 points or 0.33% at 36,471.17

On BSE, so far 11,000 shares were traded in the counter as against average daily volume of 12,000 shares in the past two weeks. The stock hit a record high of Rs 6,624 in intraday trade today, 20 July 2018. The stock hit a low of Rs 6,206.60 so far during the day. The stock had hit a 52-week low of Rs 4,398 on 18 July 2017.

The large-cap stock has equity capital of Rs 79.57 crore. Face value per share is Rs 5.

Consolidated net worth stood at Rs 20900 crore as on 30 June 2018 as compared to Rs 16700 crore as on 30 June 2017. Bajaj Finserv's surplus funds stood at Rs 660 crore as on 30 June 2018 from Rs 570 crore as on 30 June 2017.

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).

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