BUSINESS

Bajaj Finserv’s M-Cap Crosses Rs 2 Trillion

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Bajaj Finserv entered the elite club of companies having a market capitalization (market-cap) of Rs 2 trillion after its stock price hit a new high of Rs 12,611.65, up 2.3 per cent in Friday’s otherwise range-bound market.  The stock of the Bajaj Group’s holding company surpassed its previous high of Rs 12,529.15, touched on June 28, 2021.

In the morning trade, Bajaj Finserv’s market-capitalisation stood at Rs 200,464 lakh crore (Rs 2.0 trillion), BSE data shows. At the same time, the S&P BSE Sensex was down 0.08 per cent at 52,525 points. Currently, Bajaj Finserv holds the 20th position in terms of overall market-cap ranking and companies having a market-cap of over Rs 2 trillion. Bajaj Finance, another group company, stood at number 9th with a market-cap of Rs 3.7 trillion, data shows.

In the past three months, the stock of Bajaj Finserv has outperformed the market by surging 31 per cent as compared to a 6 per cent rise in the S&P BSE Sensex.

For the April-June quarter (Q1FY22), ICICI Securities expects Bajaj Finserv’s consolidated revenue to remain steady at Rs 13,846 crore, led by a pick-up in all business – lending, life, general insurance, though the absence of elevated investment gains may keep optical revenue stable.

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