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Bajaj Finserv shares hit a new high of Rs 18,702 as they rallied 6 per cent on the BSE in Thursday’s intra-day trade on the back of heavy volumes. The holding company for the various financial services businesses of the Bajaj Group is set to join elite list companies that have a market capitalisation of Rs 3 trillion.
In the morning trade, Bajaj Finserv was up 5.4 per cent at Rs 18,557, with a market cap of Rs 2.96 trillion, the BSE data shows. At the same time, the S&P BSE Sensex was up 1.07 per cent at 59,557 points.
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In the past six months, the stock has nearly doubled or jumped 98 per cent against a 19 per cent rise in the Sensex. In the last year, it has zoomed 228 per cent, compared to a 58 per cent surge in the benchmark index.
Bajaj Finserv is primarily engaged in promoting financial services such as finance, insurance, wealth management, etc., through its investments in subsidiaries and joint ventures. The company is also involved in generating power through wind turbines, a renewable source of energy. Bajaj Finserv holds stakes in Bajaj Allianz Life (sixth-largest private insurer (BALIC), Bajaj Allianz General Insurance (BAGIC) (second-largest general insurer), Bajaj Finance (BFL) and Bajaj Financial Solutions.
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