 "Bajaj Finance surpasses YES Bank, Dr Reddys, Dabur India in m-cap ranking")
Bajaj Finance with a m-cap of Rs 60,003 crore on Monday at 10:28 am, is ahead of these eight companies which having m-cap of less than Rs 60,000 crore each, BSE data showed.
Bajaj Finance is a non-banking finance company (NBFC) engaged in consumer finance, small & medium enterprise (SME) finance and commercial lending and wealth management.
Market capitalisation or the value of a listed company is arrived at by multiplying the total number of its shares with its stock price on a particular day or time.
Bajaj Finance climbed to 37th position from the 45th position in overall m-cap ranking post June quarter (Q1FY17) results on July 25, 2016. The company stands behind automobile company Eicher Motors having m-cap Rs 61,236 crore.
Shares of Bajaj Finance have outperformed the market by surging 24% in past one-week after reported a better than expected 54% year on year jump in net profit at Rs 424 crore in Q1FY17 against Rs 276 crore in the same quarter last fiscal. The stock hit a record high of Rs 11,410 on the BSE in intra-day trade.
The board has approved sub-division of equity shares of face value of Rs 10 each into equity shares of face value of Rs 2 each. The board has also approved a bonus of one share for every share of face value Rs 2 held.
J.P. Morgan think Bajaj Finance will likely do an equity raise over next 12-18 months to sustain current high growth and that raise will be BPS/valuation accretive.
“Whilst Bajaj Finance is one of the most expensive financial stocks in India (P/B basis), we think the premium will sustain as long as the company keeps outperforming peer set on growth,” the foreign brokerage said in a results update.
“Although Bajaj Finance’s stock is extremely expensive, the stock split (1:5) and bonus issue (1:1) declared recently would increase liquidity in the stock. This coupled with strong growth momentum and robust profitability outlook is likely to keep valuation multiples elevated in the medium term,” analyst at IIFL Institutional Equities said in a report.
Meanwhile, thus far in the current calendar year 2016, Bajaj Finance zoom 85% against 8% rise in the benchmark index. The stock was at number 59 position in overall m-cap ranking.
Since then, it surpassed 12 companies include Zee Entertainment Network, Cipla, Aurobindo Pharma, Grasim Industries, Bank of Baroda, Bharat Heavy Electricals (BHEL) and Idea Cellular in m-cap rank.
| Price on BSE in Rs | Market capitalisation in Rs cr | |||||||
| Company | 31/12/2015 | 25/07/2016 | LTP | % chg# | % chg* | 31/12/2015 | 25/07/2016 | LTP |
| TCS | 2439.20 | 2551.55 | 2712.00 | 6.29 | 11.18 | 480,620 | 502,765 | 534,380 |
| Reliance Inds. | 1012.60 | 1020.65 | 1016.25 | -0.43 | 0.36 | 328,002 | 330,968 | 329,565 |
| HDFC Bank | 1082.75 | 1246.55 | 1255.85 | 0.75 | 15.99 | 273,405 | 316,007 | 318,365 |
| ITC | 218.40 | 251.30 | 254.30 | 1.19 | 16.44 | 263,282 | 303,570 | 307,194 |
| Infosys | 1104.55 | 1080.50 | 1081.00 | 0.05 | -2.13 | 253,709 | 248,185 | 248,300 |
| H D F C | 1262.65 | 1380.00 | 1388.90 | 0.64 | 10.00 | 199,341 | 218,323 | 219,731 |
| Coal India | 328.70 | 332.90 | 329.35 | -1.07 | 0.20 | 207,619 | 210,272 | 208,029 |
| Sun Pharma.Inds. | 819.95 | 802.50 | 835.30 | 4.09 | 1.87 | 197,337 | 193,142 | 201,036 |
| Hind. Unilever | 862.35 | 906.80 | 923.40 | 1.83 | 7.08 | 186,604 | 196,254 | 199,846 |
| O N G C | 241.90 | 226.70 | 222.45 | -1.87 | -8.04 | 206,957 | 193,953 | 190,317 |
| St Bk of India | 224.40 | 229.85 | 231.80 | 0.85 | 3.30 | 174,197 | 178,427 | 179,941 |
| Tata Motors | 391.25 | 508.90 | 513.30 | 0.86 | 31.19 | 127,697 | 163,704 | 164,991 |
| ICICI Bank | 261.45 | 269.15 | 257.30 | -4.40 | -1.59 | 151,960 | 156,566 | 149,674 |
| Maruti Suzuki | 4615.35 | 4550.60 | 4824.60 | 6.02 | 4.53 | 139,420 | 137,465 | 145,742 |
| Bharti Airtel | 339.90 | 370.30 | 364.00 | -1.70 | 7.09 | 135,872 | 148,024 | 145,505 |
| Larsen & Toubro | 1275.65 | 1585.45 | 1556.95 | -1.80 | 22.05 | 118,789 | 147,765 | 145,109 |
| Kotak Mah. Bank | 718.55 | 764.95 | 761.20 | -0.49 | 5.94 | 131,674 | 140,427 | 139,739 |
| Wipro | 559.80 | 542.40 | 559.15 | 3.09 | -0.12 | 138,293 | 131,844 | 135,915 |
| I O C L | 428.65 | 536.75 | 548.00 | 2.10 | 27.84 | 104,074 | 130,320 | 133,052 |
| Axis Bank | 449.50 | 538.30 | 556.15 | 3.32 | 23.73 | 106,932 | 128,524 | 132,788 |
| NTPC | 145.90 | 157.15 | 158.85 | 1.08 | 8.88 | 120,301 | 129,577 | 130,979 |
| HCL Technologies | 855.45 | 737.90 | 766.55 | 3.88 | -10.39 | 120,559 | 104,107 | 108,148 |
| Asian Paints | 883.85 | 1068.85 | 1125.75 | 5.32 | 27.37 | 84,779 | 102,524 | 107,982 |
| UltraTech Cem. | 2784.95 | 3671.95 | 3754.30 | 2.24 | 34.81 | 76,425 | 100,772 | 103,032 |
| Power Grid Corpn | 141.20 | 168.65 | 178.25 | 5.69 | 26.24 | 73,870 | 88,231 | 93,253 |
| M & M | 1271.55 | 1460.25 | 1484.90 | 1.69 | 16.78 | 78,975 | 90,695 | 92,226 |
| Hind.Zinc | 146.60 | 196.10 | 214.15 | 9.20 | 46.08 | 61,943 | 82,858 | 90,485 |
| B P C L | 446.68 | 593.30 | 596.10 | 0.47 | 33.45 | 64,596 | 85,801 | 86,206 |
| Bajaj Auto | 2533.50 | 2700.00 | 2748.50 | 1.80 | 8.49 | 73,312 | 78,130 | 79,533 |
| Bosch | 18671.85 | 24472.70 | 25012.05 | 2.20 | 33.96 | 58,630 | 76,844 | 78,538 |
| Lupin | 1837.80 | 1717.20 | 1726.00 | 0.51 | -6.08 | 82,793 | 77,442 | 77,839 |
| Bharti Infra. | 428.35 | 365.30 | 402.80 | 10.27 | -5.96 | 81,244 | 69,285 | 76,398 |
| IndusInd Bank | 968.75 | 1156.75 | 1189.80 | 2.86 | 22.82 | 57,509 | 68,940 | 70,934 |
| Nestle India | 5824.10 | 7106.30 | 7076.00 | -0.43 | 21.50 | 56,156 | 68,519 | 68,227 |
| Hero Motocorp | 2695.25 | 3279.70 | 3238.45 | -1.26 | 20.15 | 53,824 | 65,492 | 64,669 |
| Eicher Motors | 16855.20 | 19938.35 | 22544.00 | 13.07 | 33.75 | 45,762 | 54,159 | 61,236 |
| Bajaj Finance | 6013.20 | 8978.30 | 11138.05 | 24.06 | 85.23 | 32,249 | 48,368 | 60,003 |
| Shree Cement | 11472.60 | 16072.35 | 16297.00 | 1.40 | 42.05 | 39,971 | 55,996 | 56,779 |
| Godrej Consumer | 1318.75 | 1644.75 | 1593.95 | -3.09 | 20.87 | 44,908 | 56,009 | 54,279 |
| Dabur India | 276.60 | 306.00 | 305.00 | -0.33 | 10.27 | 48,657 | 53,902 | 53,726 |
| Yes Bank | 726.15 | 1182.50 | 1229.20 | 3.95 | 69.28 | 30,462 | 49,809 | 51,776 |
| Dr Reddy's Labs | 3103.15 | 3474.85 | 2968.95 | -14.56 | -4.32 | 52,942 | 59,315 | 50,679 |
| Vedanta | 90.30 | 171.90 | 167.40 | -2.62 | 85.38 | 26,771 | 50,963 | 49,629 |
| Adani Ports | 260.60 | 226.10 | 235.15 | 4.00 | -9.77 | 53,969 | 46,824 | 48,698 |
| GAIL (India) | 375.40 | 390.95 | 383.00 | -2.03 | 2.02 | 47,619 | 49,591 | 48,583 |
| Zee Entertainmen | 437.05 | 474.95 | 502.60 | 5.82 | 15.00 | 41,974 | 45,614 | 48,270 |
| Siemens | 1200.80 | 1347.20 | 1341.05 | -0.46 | 11.68 | 42,763 | 47,977 | 47,758 |
| Aurobindo Pharma | 875.40 | 799.20 | 802.65 | 0.43 | -8.31 | 51,123 | 46,767 | 46,969 |
| Tech Mahindra | 521.60 | 508.40 | 482.50 | -5.09 | -7.50 | 50,430 | 49,391 | 46,875 |
| Grasim Inds | 3747.25 | 4868.90 | 4928.05 | 1.21 | 31.51 | 34,426 | 45,451 | 46,002 |
| LTP : Last traded price at 10:28 am | ||||||||
| # % change over July 25, 2016 | ||||||||
| * % change over December 31, 2015 | ||||||||
| Source : BSE/CapitalinePlus | ||||||||