Adani Transmission surpassed HDFC, LIC, Bajaj Finance and Bharti Airtel in market cap ranking on Tuesday
Lender could clock 40% annual profit growth between FY22-24
Eight of the top 10 valued firms added Rs 1,91,622.95 crore to their market valuation last week, with Bajaj Finance and Tata Consultancy Services emerging as lead gainers
Shares of Bajaj Finance on Thursday surged 10 per cent, the most in more than two years, after its quarterly profit blew past estimates on strong customer additions and lower bad loan provisions
At the bourses, shares of Bajaj Finance jumped 9.4 per cent on Thursday to Rs 6,999 apiece on the BSE in the intra-day trade. In comparison, the BSE Sensex was up 1.4 per cent at 11:25 AM.
CLOSING BELL: Tata Steel, Kotak Bank, IndusInd Bank, Nestle, Infosys, Asian Paints, and Tech M were the other outperformers, up between 3 per cent and 4.6 per cent
Analysts believe that the US Fed's confidence about strong labor markets and dismissal of recession brought respite to the investors
Shares of Bajaj Finance jumped as much as 9 per cent on Thursday, their biggest intraday gain since November 2020
Both, Bajaj Finance and Bajaj Finserv, may enter a long-term bull run if the current levels are held decisively for few more sessions
Thus far in the month of July, the market price of Bajaj Finance has appreciated 27 per cent, as compared to 6 per cent rise in the S&P BSE Sensex
Stocks to watch today: Dr Reddy's, Bajaj Finserv, Nestle India will report their June quarter results on Thursday, July 28; HAL signed $100 million contract with Honeywell for HTT-40 engines.
Shares of the company closed at Rs 6,393.75 - up 2.14 per cent from the previous days' close
Shares of Bajaj Finance on Wednesday went up by over 2 per cent after the company reported its highest-ever consolidated quarterly net profit at Rs 2,596 crore for the June quarter.
The company's assets under management grew by 28% to Rs 2.04 trillion as of June 30, 2022
Stock market live updates: As of 7:45 AM, the SGX Nifty Futures quoted at 16,475 levels, indicating a downside of 8 odd-points on the Nifty50.
Stocks to watch today: Bajaj Finance, Tata Motors, and Maruti Suzuki will report their June quarter results on Wednesday, July 27; United Spirits reported five-fold jump in net profit in Q1FY23.
Companies, including HDFC, Tata Capital Financial Services, LIC Housing Finance and Haldia Petrochem raised over Rs 6,000 crore on Wednesday
CLOSING BELL: Select IT, metals, and pharma stocks helped the headline indices recover from the day's low
Top 10 Sensex losers have tanked over 20 per cent, while 5 among these have plunged over 30 per cent since October 2021
Stocks to watch today: Bajaj Finance has raised fixed deposit rates by up to 20 basis points; Zydus Lifesciences will open its share buyback offer on June 23 and close on July 6.