Bajaj Finserv trades higher on getting nod to invest Rs 342 crore in Bajaj Finserv Direct
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Bajaj Finserv is currently trading at Rs. 12932.10, up by 340.70 points or 2.71% from its previous closing of Rs. 12591.40 on the BSE.
The scrip opened at Rs. 12352.00 and has touched a high and low of Rs. 12932.10 and Rs. 12348.00 respectively. So far 10885 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 13114.30 on 15-Jul-2021 and a 52 week low of Rs. 5401.00 on 24-Sep-2020.
Last one week high and low of the scrip stood at Rs. 13114.30 and Rs. 12532.80 respectively. The current market cap of the company is Rs. 203847.11 crore.
The promoters holding in the company stood at 60.80%, while Institutions and Non-Institutions held 15.16% and 24.05% respectively.
Bajaj Finserv’s board has approved to invest Rs 342 crore in Bajaj Finserv Direct, wholly owned subsidiary of the Company. Investment is intended to support existing line of businesses. The investment would be undertaken at an arms-length price based on an independent valuation report. The investment has also been approved by audit committee of BFS. The Board of Directors at its meeting held on July 21, 2021 has approved the same.
Bajaj Finserv has established itself as a financial power house with interests in insurance, lending, asset management and wealth managemen
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