Shares of Bajaj Finserv (BFin) spurted 9.24 per cent to close at Rs 216.85 on the company’s plans to foray into asset management. To this effect, the company has penned an agreement with Allianz Global (AG) to set up an asset management joint venture company. AG and BFin will hold 51 per cent and 49 per cent stake, respectively in the proposed joint venture.
The stock made an intraday high of Rs 218.35 and a low of Rs 200.2 with trading volumes of 23,889 shares. The scrip made a 52-week high of Rs 999 (May 26, 2008) and a low of Rs 88.6 (December 02, 2008).