Bajaj Finserv Ltd Share Price – NSE /  BSE

Finance, Mid Cap

The key equity indices traded with decent gains in afternoon trade. The Nifty traded above the 24,900 level after hitting the day's low of 24,753.15 in early trade. FMCG, private bank and bank shares advanced while oil & gas, PSU bank and metal shares declined.

At 13:30 IST, the barometer index, the S&P BSE Sensex jumped 330.28 points or 0.41% to 81,514.21. The Nifty 50 index added 74.75 points or 0.30% to 24,924.40.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.60% and the S&P BSE Small-Cap index declined 0.94%.

The market breadth was weak. On the BSE, 1,420 shares rose and 2,527 shares fell. A total of 149 shares were unchanged.

Gainers & Losers:

Hindustan Unilever (up 3.28%), Shriram Finance (up 2.18%), ITC (up 1.80%), ICICI Bank (up 1.62%) and Britannia Industries (up 1.60%) were major Nifty gainers.

Oil and Natural Gas Corporation (ONGC) (down 4.18%), Tech Mahindra (down 2.22%), Hindalco Industries (down 1.93%), Tata Motors (down 1.89%) and Coal India (down 1.67%) were major Nifty losers.

Stocks in Spotlight:

Bajaj Finserv rose 0.61%. The company’s subsidiary, Bajaj Allianz General Insurance Company's gross direct premium underwritten for August 2024 was at Rs 1,736.23 crore, recording a growth of 3.48% year on year. Bajaj Allianz Life Insurance Company's total premium aggregated to Rs 952.52 crore for the month of August 2024, up 2.82% as against Rs 926.41 crore recorded in the same period a year ago.

Mazagon Dock Shipbuilders slipped 1.16%. The ship building company announced that it has received a notification of award of contract worth Rs 1,486.40 crore from Oil & Natural Gas Corporation (ONGC). The company bagged a contract for pipeline replacement project 8 Group A (PRP 8 Group A) on EPC reimbursable basis (OBE) at the ceiling price of Rs 1486,40,32,996.

Deep Industries zoomed 19.25% after the company has received significant order from Oil and Natural Gas Corporation (ONGC) worth Rs 1,402 crore for production enhancement operations in mature field of the company's Rajahmundry Asset.

Ion Exchange (India) advanced 1.30% after the firm received contracts from Tecnimont SpA, Italy for the hail & ghasha development project of ADNOC in UAE, totaling to approximately of Rs 168 crore.

Granules India fell 2.65% after the company announced that its facility in Gagillapur, Hyderabad, Telangana was inspected by US Food & Drug Administration (USFDA) from 26 August 2024 to 5 September 2024. The inspection was concluded with six observations.

Spicejet added 2.34% after the company has entered into a term sheet with Carlyle Aviation Management (CAML) to restructure certain aircraft lease obligations of SpiceJet aggregating to $137.68 million as on 30 June 2024.

NIBE was locked in 5% upper circuit after the company announced the signing of an MoU with various entities for building and operating a private Earth Observation Constellation.

Global Markets:

Europeans stocks advanced while Asian stocks declined on Monday as selling pressure intensified, triggered by a weaker-than-expected US jobs report and the looming Fed meeting. Concerns about a slowdown in China and Germany further fueled the decline in stocks, which were already volatile due to anticipated Fed rate cuts.

The US non-farm payrolls increased by only 142,000 in August, falling short of the expected 165,000. This marked the lowest three-month average since mid-2020. Although the unemployment rate decreased to 4.2%, it was the first drop in five months.

In China, the consumer price index rose by 0.6% year-on-year in August, primarily due to declines in transportation, home goods prices, and rents.

Meanwhile, US markets suffered a significant setback on Friday. The S&P 500 experienced its worst week since March 2023, as investors grappled with the implications of the weak jobs report and abandoned leading technology stocks. The broad index declined by 1.73%, while the Nasdaq Composite shed 2.55%. The Dow Jones Industrial Average fell 1.01%. Megacap tech stocks took a particularly hard hit as investors dumped risk assets amidst growing concerns about the US economy's health.

Investors widely anticipate the Fed to lower interest rates by at least a quarter-percentage point at its upcoming policy meeting. However, the softening labor market trends have increased speculation that the central bank might opt for a more aggressive cut. Traders remain divided on whether the Fed will cut by a quarter- or half-percentage point.

Powered by Capital Market - Live News

Bajaj Allianz Life Insurance Company's total premium aggregated to Rs 952.52 crore for the month of August 2024, up 2.82% as against Rs 926.41 crore recorded in the same period a year ago.

Individual non-single premium were at Rs 585.87 crore (up 22.23% YoY) in August 2024. Individual single premium amounted to Rs 74.14 crore (up 28.67% YoY) and Group yearly renewable premium added up to Rs 54.70 crore (up 141.93% YoY) in the month of August 2024. However, Group single premium dropped 35.18% YoY to Rs 237.81 crore during the period under review.

Bajaj Finserv is the holding company for the various financial services businesses under the Bajaj group. It participates in the financing business through its 52.45% holding in Bajaj Finance and in the protection business through its 74% holding in two unlisted subsidiaries, Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company.

The company's consolidated net profit jumped 10.04% to Rs 2,137.70 crore on 35.22% increase in total income to Rs 31,480.14 crore in Q1 FY25 over Q1 FY24.

The scrip added 0.23% to currently trade at Rs 1,861 on the BSE.

Powered by Capital Market - Live News

Bajaj Finserv Ltd is up for a fifth straight session in a row. The stock is quoting at Rs 1866, up 0.02% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is down around 0.57% on the day, quoting at 25136.35. The Sensex is at 82165.57, down 0.47%. Bajaj Finserv Ltd has added around 19.03% in last one month.

Meanwhile, Nifty Financial Services index of which Bajaj Finserv Ltd is a constituent, has added around 4.57% in last one month and is currently quoting at 23922.2, down 0.5% on the day. The volume in the stock stood at 15.59 lakh shares today, compared to the daily average of 23.76 lakh shares in last one month.

The benchmark September futures contract for the stock is quoting at Rs 1870.65, up 0.02% on the day. Bajaj Finserv Ltd is up 23.54% in last one year as compared to a 28.41% gain in NIFTY and a 20.49% gain in the Nifty Financial Services index.

The PE of the stock is 212.54 based on TTM earnings ending June 24.

Powered by Capital Market - Live News

Bajaj Finserv Ltd is up for a third straight session in a row. The stock is quoting at Rs 1841.65, up 3.29% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.09% on the day, quoting at 25259.3. The Sensex is at 82509.57, up 0.17%. Bajaj Finserv Ltd has risen around 17.47% in last one month.

Meanwhile, Nifty Financial Services index of which Bajaj Finserv Ltd is a constituent, has risen around 4.02% in last one month and is currently quoting at 23637.9, up 0.16% on the day. The volume in the stock stood at 40.83 lakh shares today, compared to the daily average of 21.06 lakh shares in last one month.

The benchmark September futures contract for the stock is quoting at Rs 1848, up 3.14% on the day. Bajaj Finserv Ltd is up 21.96% in last one year as compared to a 29.34% spurt in NIFTY and a 19.65% spurt in the Nifty Financial Services index.

The PE of the stock is 203.24 based on TTM earnings ending June 24.

Powered by Capital Market - Live News