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Bajaj Finserv jumped 3.82% to Rs 10,471.15 after the company s consolidated net profit surged 403% to Rs 979 crore on 15.74% rise in total income to Rs 15,387.25 crore in Q4 FY21 over Q4 FY20.Consolidated profit before tax jumped 197.45% to Rs 2358 crore in Q4 FY21 from Rs 792.9 crore posted in Q4 FY20. The result was announced during market hours today, 28 April 2021.
The company posted a 32.68% rise in net profit to Rs 4470.46 crore on 11.48% rise in total income to Rs 60,591.57 crore for the year ended March 2021 (FY21) over year ended March 2020 (FY20).
Bajaj Finserv participates in the financing business through its 52.74% holding in Bajaj Finance and in the protection business through its 74% holding in two unlisted subsidiaries, Bajaj Allianz General Insurance Company Limited (BAGIC) and Bajaj Allianz life Insurance Company Limited (BALIC). Bajaj Housing Finance Limited (BHFL), which does mortgage business, is also a wholly-owned subsidiary of Bajaj Finance.
Equity indices were hovering near the day s high in mid-morning trade. Global stocks were trading higher as investors hoped for more economic stimulus from U. S. President Joe Biden. At 11:30 IST, the barometer index, the S&P BSE Sensex, surged 345.14 points or 0.69% at 50,137.25. The Nifty 50 index was up 95.75 points or 0.65% at 14,740.65.
The Sensex hit a record high of 50,149.49 and the Nifty hit an all time high of 14,745.20 in mid-morning trade.
In broader market, the S&P BSE Mid-Cap index was up 0.78% while the S&P BSE Small-Cap index gained 0.58%.
The market breadth was strong. On the BSE, 1527 shares rose and 1195 shares fell. A total of 142 shares were unchanged.