Bajaj Finserv was last trading 6.76 per cent higher at Rs 11,200.80 on the BSE.
Share price of Bajaj Finserv gained more than seven per cent on Thursday, April 29, a day after the non-banking finance company reported its January-March quarter results for the financial year 2020-21. On Thursday, Bajaj Finserv opened on the BSE at Rs 10,550, touching an intra day high of Rs 11,299.65, and an intra day low of Rs 10,535.05, in the trading session so far. According to a regulatory filing by the firm to the BSE, Bajaj Finserv reported a net profit of Rs 979 crore in March quarter, registering a five-fold jump in profit from Rs 194 crore in the corresponding quarter last year. (
Bajaj Finserv Q4 Results: Profit jumps over 4-fold to Rs 979 crore
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Last Updated: Apr 28, 2021, 05:59 PM IST
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Synopsis
Bajaj Finserv s total consolidated income during the March 2021 quarter increased to Rs 15,387 crore as against Rs 13,294 crore in the corresponding period of the previous financial year.
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The board of Bajaj Finserv has recommended a dividend of 3 per share or 60 per cent on the face value of Rs 5 per unit.
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NEW DELHI:
Bajaj Finserv Ltd (BFL) on Wednesday reported over four-fold jump in its consolidated net profit to Rs 979 crore for the fourth quarter ended in March 2021, driven by its insurance business. The company had posted a net profit of Rs 194 crore during the corresponding January-March period of 2019-20.
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Top gainers today: HDFC, Axis, ICICI Bank, Bajaj Finance, Coal India, SBI, L&T rise up to 5%
Top stocks that rose the most on February 24: Private lenders HDFC, Axis and ICICI Bank were among top gainers on BSE Sensex on the back of government s move to lift the embargo on the grant of GOI business to private banks
BusinessToday.In | February 24, 2021 | Updated 22:20 IST
HDFC, Axis and ICICI Bank were among top gainers on BSE today
Indian benchmark indices, Sensex and Nifty, ended higher on Wednesday on the back of strong buying across banking stocks, propelled by Centre s move to lift the embargo on granting government business to private lenders. While Sensex surged 1,030 points to settle at 50,781, Nifty gained 274.20 points to close at 14,982. Banking stocks were among top gainers on BSE Sensex pack after Finance Minister Nirmala Sitharaman announced that the government has lifted the embargo on grant of government businesses to private banks.
Shares of Bajaj Finserv hit a fresh 52-week high of Rs 10,113, up 4 per cent on the BSE in the intra-day trade on Monday. The stock of the holding company for various financial services businesses of the Bajaj Group surpassed its previous high of Rs 9,996.75, touched on February 2, 2021. Besides, it was also trading close to its all-time high level of Rs 10,297, hit on December 18, 2019.
In the past six trading days, the stock has rallied 16 per cent after the government proposed to increase foreign direct investment in the insurance sector to 74 per cent, a move aimed at attracting overseas players. In comparison, the S&P BSE Sensex was up 11 per cent during the same period.
Shares of companies engaged in insurance business rallied by up to 9 per cent on the BSE on Monday after the government proposed to increase foreign direct investment in the sector to 74 per cent, a move aimed at attracting overseas players.
The limit on FDI in Indian insurance companies will be lifted from 49 per cent to 74 per cent, said Finance Minister Nirmala Sitharaman on Monday in her Budget speech for 2021-22, accepting a demand the industry had proposed for long.
The law presently says an Indian insurance company has to be Indian-owned and controlled . This gives the Indian partner the right to appoint a majority of directors or control the management of a company. The Insurance Act will be updated to allow foreign ownership in insurance with safeguards.