Bajaj Finserv turns volatile after Q2 results

Bajaj Finserv fell 3.64% to Rs 1072.95 at 15:22 IST on BSE after consolidated net profit rose 14.24% to Rs 315.93 crore on 25.89% increase in total income to Rs 1,648.46 crore in Q2 September 2014 over Q2 September 2013.

The result was announced during trading hours today, 14 October 2014.

Meanwhile, the BSE Sensex was down 18.40 points, or 0.07%, to 26,365.67.

On BSE, so far 18,000 shares were traded in the counter, compared with an average volume of 37,817 shares in the past one quarter.

The stock rose 2.40% at the day's high of Rs 1,140.15 so far during the day. The stock fell 4.23% at the day's low of Rs 1,066.40 so far during the day.

The stock hit a record high of Rs 1,164.60 on 30 September 2014. The stock hit a 52-week low of Rs 617 on 29 October 2013.

The stock had outperformed the market over the past one month till 13 October 2014, rising 3.38% compared with 2.50% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 18.90% as against Sensex's 5.43% rise.

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

Bajaj Finserv said it intends to transfer by way of sale, at an arm's length price, its wholly-owned subsidiary Bajaj Finance Solutions together with its wholly-owned subsidiary, to Bajaj Finance, also a subsidiary of the company, to carry on, through the former the business of housing finance. The said sale has been approved by the board of directors in their meeting held today, 14 October 2014.

Bajaj Finserv is a holding company and the financial services arm of the Bajaj group with business interest in protection, lending and financial advisory and wealth management through its various associate and subsidiary companies.

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