Bajaj Finance Ltd, the lending arm of Bajaj Finserv, on Monday said it has raised fixed deposit interest rates on various tenors -- 24-60 months -- by up to 20 basis points (0.20 per cent). This will not include deposits of 44 months tenor, it added. The revised rates on Bajaj Finance FDs of up to 20 basis points are effective from June 14, 2022, and shall be applicable to fresh deposits and renewals of maturing deposits, the lender said in a release. With this, the depositors will earn 7.20 per cent cumulative return on deposits between 36 months to 60 months. Senior citizens can reap the benefit of up to 0.25 per cent higher FD rates, which will offer assured returns of 7.45 per cent for 36 months to 60 months, the company said. The non-banking finance company (NBFC) said it has also included special interest rates for all customers. "With special interest rate, one can now choose specific tenors to enjoy interest rates up to 7.35 per cent per annum." For a tenor of 44 months
A total of 46 stocks from the Nifty500 index also hit their respective 52-week lows on the NSE today including Astral, Birla Corporation, CSB Bank, LIC Housing Finance, SpiceJet.
The Bajaj and HDFC twins can rally up to 8 per cent provided the stocks manage to sustain above the following key technical levels on the daily and weekly charts.
The revised interest rates by Bajaj Finance will be applicable to fresh deposits as well as renewals of maturing deposits
Tech Mahindra and Wipro have tumbled over 30 per cent, while Apollo Hospitals Enterprise and Dr. Reddy's Laboratories have plummeted 22 per cent so far in calendar year 2022 (CY22)
Tracking an extremely weak trend in equities, the market capitalisation of BSE-listed firms tumbled Rs 5,10,150.97 crore to Rs 2,54,54,738.40 crore in initial deals.
At 02:27 PM: Nifty Bank, Nifty Financial Services, Nifty PSU Bank, Nifty Auto and Nifty Auto index were down between 1.3 per cent and 2 per cent on the NSE.
Bajaj Finance Q4 review: While asset under management, portfolio composition, and digital transformation will remain key drivers for the stock, premium valuation, and elevated costs may cap upside
The company's market valuation declined by Rs 31,727.37 crore to Rs 4,06,645.63 crore on the BSE
CLOSING BELL: Life Insurance Corporation of India (LIC) will come out with its IPO on May 4
Brokerage firm Motilal Oswal Financial Services expects net interest margins (NIMs) to compress in FY23 due to yield pressure and higher borrowing cost.
Stocks to Watch Today: Shares of Bajaj Auto, Hindustan Unilever and Indian Hotels are likely to be in focus as the companies report Q4 results on Wednesday.
Dividend Rs 20 per share for FY22
CLOSING BELL: Sectorally, all the indices ended in the green zone, led by the Nifty Realty and Auto indices, up 3.5 per cent and 3 per cent, respectively
Stocks to Watch today: Bajaj Finance, HDFC Life, Macrotech Developers, KPIT Technologies are among those slated to announce their Q4 earnings today.
Shares of the company jumped 2.70% to settle at Rs 2,864.75 on BSE
Bajaj Finance on Tuesday beat mortgage lender HDFC in terms of market capitalisation (m-cap) to become the eighth-most valued stock on the BSE
HDFC Bank's quarterly show was in-line; Bajaj Finance was ahead on some metrics but low penetration of new app disappointed
Bajaj Finance stock on Wednesday surrendered all its early gains and settled over 2 per cent lower on profit-taking.
Bajaj Finance hits new high on Q3 results; falls on profit-booking later; Paytm hits new low; declines 26% in three weeks; AGS Transact Technologies IPO subscribed 85% on day 1