Bajaj Finance trades in green despite weakness over Dalal Street
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Bajaj Finance is currently trading at Rs. 7863.60, up by 97.30 points or 1.25% from its previous closing of Rs. 7766.30 on the BSE.
The scrip opened at Rs. 7800.00 and has touched a high and low of Rs. 7880.00 and Rs. 7766.30 respectively. So far 11384 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 8190.00 on 06-Oct-2023 and a 52 week low of Rs. 5487.25 on 20-Mar-2023.
Last one week high and low of the scrip stood at Rs. 8162.00 and Rs. 7725.00 respectively. The current market cap of the company is Rs. 474200.94 crore.
The promoters holding in the company stood at 55.87%, while Institutions and Non-Institutions held 33.53% and 10.60% respectively.
Bajaj Finance has entered into a binding term sheet with Pennant Technologies on October 16, 2023, for acquisition up to 26% equity stake in Pennant. Post the consummation of transaction, Pennant will become a related party. The object of the strategic investment is to strengthen company’s technology roadmap. Cost of acquisition is around Rs 267.50 crore.
Pennant is engaged in providing business-driven technology services and software products for the banking and financial services industry.
Bajaj Finance, the lending company of Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market catering to more than 40 million customers across the country.
