Bajaj Finserv extends gain on Sebi nod to set up MF; surges 69% in 4 months

Setting up of the AMC business will add value to Bajaj Finserv's overall business

Shares of Bajaj Finserv hit a new record high of Rs 16,808, up 2 per cent on the BSE in the intra-day trade on Wednesday, having surged 10 per cent in the past two trading days, after the company said it has received an in-principle approval from Securities and Exchange Board of India (Sebi) for sponsoring a mutual fund. The stock was trading higher for the third straight day, up 12 per cent during the period.

Bajaj Finserv, in an exchange filing on Tuesday, said it has received approval from Sebi to set up a mutual fund. Accordingly, the