Bajaj Auto Finance jumps 20%

Stock of Bajaj Auto Finance, the non-banking finance company (NBFC) of Bajaj Financial Services, gained 20 per cent at Rs 286 a share on the Bombay Stock Exchange on speculation of a possible restructuring.

“The company’s two-wheeler loan portfolio may be demerged,” a market source said.

The Bajaj Group operates its two-wheeler business under Bajaj Auto and speculation of a possible restructuring of the two-wheeler loan portfolio in the group pushed the stock price for the NBFC.

Sanjiv Bajaj, a director on the board on Bajaj Auto Finance, said: “We do not have a restructuring plan.”