Both, Bajaj Finance and Bajaj Finserv, may enter a long-term bull run if the current levels are held decisively for few more sessions
Thus far in the month of July, the market price of Bajaj Finance has appreciated 27 per cent, as compared to 6 per cent rise in the S&P BSE Sensex
Stocks to watch today: Dr Reddy's, Bajaj Finserv, Nestle India will report their June quarter results on Thursday, July 28; HAL signed $100 million contract with Honeywell for HTT-40 engines.
Shares of the company closed at Rs 6,393.75 - up 2.14 per cent from the previous days' close
Shares of Bajaj Finance on Wednesday went up by over 2 per cent after the company reported its highest-ever consolidated quarterly net profit at Rs 2,596 crore for the June quarter.
The company's assets under management grew by 28% to Rs 2.04 trillion as of June 30, 2022
Stock market live updates: As of 7:45 AM, the SGX Nifty Futures quoted at 16,475 levels, indicating a downside of 8 odd-points on the Nifty50.
Stocks to watch today: Bajaj Finance, Tata Motors, and Maruti Suzuki will report their June quarter results on Wednesday, July 27; United Spirits reported five-fold jump in net profit in Q1FY23.
Companies, including HDFC, Tata Capital Financial Services, LIC Housing Finance and Haldia Petrochem raised over Rs 6,000 crore on Wednesday
CLOSING BELL: Select IT, metals, and pharma stocks helped the headline indices recover from the day's low
Top 10 Sensex losers have tanked over 20 per cent, while 5 among these have plunged over 30 per cent since October 2021
Stocks to watch today: Bajaj Finance has raised fixed deposit rates by up to 20 basis points; Zydus Lifesciences will open its share buyback offer on June 23 and close on July 6.
Bajaj Finance Ltd, the lending arm of Bajaj Finserv, on Monday said it has raised fixed deposit interest rates on various tenors -- 24-60 months -- by up to 20 basis points (0.20 per cent). This will not include deposits of 44 months tenor, it added. The revised rates on Bajaj Finance FDs of up to 20 basis points are effective from June 14, 2022, and shall be applicable to fresh deposits and renewals of maturing deposits, the lender said in a release. With this, the depositors will earn 7.20 per cent cumulative return on deposits between 36 months to 60 months. Senior citizens can reap the benefit of up to 0.25 per cent higher FD rates, which will offer assured returns of 7.45 per cent for 36 months to 60 months, the company said. The non-banking finance company (NBFC) said it has also included special interest rates for all customers. "With special interest rate, one can now choose specific tenors to enjoy interest rates up to 7.35 per cent per annum." For a tenor of 44 months
A total of 46 stocks from the Nifty500 index also hit their respective 52-week lows on the NSE today including Astral, Birla Corporation, CSB Bank, LIC Housing Finance, SpiceJet.
The Bajaj and HDFC twins can rally up to 8 per cent provided the stocks manage to sustain above the following key technical levels on the daily and weekly charts.
The revised interest rates by Bajaj Finance will be applicable to fresh deposits as well as renewals of maturing deposits
Tech Mahindra and Wipro have tumbled over 30 per cent, while Apollo Hospitals Enterprise and Dr. Reddy's Laboratories have plummeted 22 per cent so far in calendar year 2022 (CY22)
Tracking an extremely weak trend in equities, the market capitalisation of BSE-listed firms tumbled Rs 5,10,150.97 crore to Rs 2,54,54,738.40 crore in initial deals.
At 02:27 PM: Nifty Bank, Nifty Financial Services, Nifty PSU Bank, Nifty Auto and Nifty Auto index were down between 1.3 per cent and 2 per cent on the NSE.
Bajaj Finance Q4 review: While asset under management, portfolio composition, and digital transformation will remain key drivers for the stock, premium valuation, and elevated costs may cap upside