 "Bajaj Finance, Bajaj Holdings hit 52-week high")
Shares of Bajaj Finance and Bajaj Holdings & Investment have touched their respective 52-week highs in otherwise subdued market.
Bajaj Holdings & Investment has rallied 5% to Rs 1,745. Bajaj Finance gained 2% at Rs 5,838 also its record high on the BSE during intra-day trade. The S&P BSE Sensex was down 0.57% at 25,657 points at 01:00 pm.
Thus far in 2015, Bajaj Finance has zoomed 68% from Rs 3,481 at the beginning of the year as compared to 6% fall in the S&P BSE Sensex.
The company had reported 36% year-on-year growth in net profit for the first half ended September 2015 aided by strong volume growth in the Consumer and Small & Medium Business Enterprise business lines.
According to analysts at Motilal Oswal Securities, Bajaj Finance continues to reap the benefits of healthy consumer demand and is among the few companies doing well in this space. It continues to increase its market share in the consumer business—though a higher share of incremental growth could be driven by the low-yield mortgage business, which could pressurize margins.
Bajaj Holdings & Investment has rallied 5% to Rs 1,745. Bajaj Finance gained 2% at Rs 5,838 also its record high on the BSE during intra-day trade. The S&P BSE Sensex was down 0.57% at 25,657 points at 01:00 pm.
Thus far in 2015, Bajaj Finance has zoomed 68% from Rs 3,481 at the beginning of the year as compared to 6% fall in the S&P BSE Sensex.
The company had reported 36% year-on-year growth in net profit for the first half ended September 2015 aided by strong volume growth in the Consumer and Small & Medium Business Enterprise business lines.
According to analysts at Motilal Oswal Securities, Bajaj Finance continues to reap the benefits of healthy consumer demand and is among the few companies doing well in this space. It continues to increase its market share in the consumer business—though a higher share of incremental growth could be driven by the low-yield mortgage business, which could pressurize margins.
