Stock market LIVE: Sector-wise, only Auto, metals and energy stocks were trading higher. Meanwhile, Nifty IT index, down nearly 2 per cent , was still the biggest loser. .
The NBFC reported a strong 85 per cent YoY jump in consolidated net profit at Rs 2,125 crore, beating Street estimates.
Aptech, Bajaj Auto, Ceat, JSW Energy, L&T Infotech, Mastek, Oracle Financial Services, Rallis India, Saregama and Tata Communications to announce December quarter results on Wednesday
To infuse Rs 2.9k cr as equity in two subsidiaries
Net interest income for Q3FY22 increased by 40% to Rs 6,000 cr
In the intra-day trade, the indices hit a low of 60,662 and 18,086, respectively
Bajaj Finance, ICICI Prudential Life, Just Dial, Jyoti Structures, LT Technology Services and Tata Elxsi are scheduled to announce December quarter results today.
In Q3FY22, Bajaj Finance's assets under management (AUM) grew 8.6 per cent quarter on quarter (QoQ) to Rs 1.81 trillion.
This move follows a Series G funding round announced in December 2021 where the firm raised $400 million at a $3.3-billion valuation.
The rating is constrained on account of moderation in asset quality parameters with high slippages in retail portfolio, mainly in unsecured retail loan portfolio owing to Covid-19
ZEE falls 5% after inking merger pact with Sony Pictures, trims losses later; Metro Brands makes a tepid debut with 13% discount; RateGain Travel Technologies surges 28% in two sessions, hits new high
Bajaj twins can slide another 10% from current levels; Supriya Lifescience IPO fully subscribed within hours of opening
Both the stocks have broken major supports and a further downside seems inevitable
With the ongoing 3-day correction, the stock of NBFC has now corrected 14 per cent from its record high level of Rs 8,020 touched on October 10, 2021
High valuations could be justified if digital fintech transformation imparts higher growth
India's largest mortgage lender, HDFC Ltd, hiked its long-term rates by upto 15 basis points (bps)
Both the stocks seem to have bottomed out and select indicators on the charts have turned favourable for these stocks, says the technical analyst from Prabhudas Lilladher
Stock market LIVE: Broader indices also trimmed gains at close; PSU banking shares were in demand, while private banking shares witnessed selling pressure
In the past one month, SBI has rallied 18 per cent, while Bajaj Finance has declined 3.6 per cent
Interest income grew by 16 per cent to Rs 6,687 crore from Rs 5,763 crore