This move follows a Series G funding round announced in December 2021 where the firm raised $400 million at a $3.3-billion valuation.
The rating is constrained on account of moderation in asset quality parameters with high slippages in retail portfolio, mainly in unsecured retail loan portfolio owing to Covid-19
ZEE falls 5% after inking merger pact with Sony Pictures, trims losses later; Metro Brands makes a tepid debut with 13% discount; RateGain Travel Technologies surges 28% in two sessions, hits new high
Bajaj twins can slide another 10% from current levels; Supriya Lifescience IPO fully subscribed within hours of opening
Both the stocks have broken major supports and a further downside seems inevitable
With the ongoing 3-day correction, the stock of NBFC has now corrected 14 per cent from its record high level of Rs 8,020 touched on October 10, 2021
High valuations could be justified if digital fintech transformation imparts higher growth
India's largest mortgage lender, HDFC Ltd, hiked its long-term rates by upto 15 basis points (bps)
Both the stocks seem to have bottomed out and select indicators on the charts have turned favourable for these stocks, says the technical analyst from Prabhudas Lilladher
Stock market LIVE: Broader indices also trimmed gains at close; PSU banking shares were in demand, while private banking shares witnessed selling pressure
In the past one month, SBI has rallied 18 per cent, while Bajaj Finance has declined 3.6 per cent
Interest income grew by 16 per cent to Rs 6,687 crore from Rs 5,763 crore
Valuation and inflation worries, high crude prices and sustained selling by foreign funds may weigh on market sentiment, while stock specific action shall continue
In an analyst call held by Morgan Stanley, Rajeev Jain says his firm is on course to apply for various licenses that are needed to be a full-service payments player
As of now, clearly bulls are having a firm grip on the market but as we have been mentioning since a week or so, they would find a bit difficult now going ahead
Bajaj Finance: The daily chart depicts three back-to-back 'Doji' candles and the first one specifically can be termed as a 'Gravestone Doji'
Here is how Bajaj Finserv and Bajaj Finance look on the technical charts
At 10:51 am, with its Rs 4.001-trillion market cap, Bajaj Finance stood in 8th place in overall market cap ranking of companies
Bajaj Finance has told Sebi that the blockage of funds would adversely impact its ability to repay and may result in a default
Bajaj Finance was the top loser in the Sensex pack, shedding 2.59 per cent, followed by Bajaj Finserv, SBI, Tata Steel, Titan, Asian Paints and Axis Bank