Bajaj Finserv rose 2.73% to Rs 1,810 at 10:10 IST on BSE on bargain hunting after dropping 5.12% in four sessions ahead of announcement of Q4 results.
Meanwhile, the S&P BSE Sensex was up 354.05 points or 1.4% at 25,659.52.
On BSE, so far 1,544 shares were traded in the counter as against average daily volume of 21,785 shares in the past one quarter. The stock hit high of Rs 1,810.25 and low of Rs 1,762.20 so far during the day. The stock had hit a record high of Rs 2,160 on 4 August 2015. The stock had hit a 52-week low of Rs 1,446 on 3 June 2015. The stock had underperformed the market over the past one month till 24 May 2016, sliding 4.77% compared with Sensex's 2.06% fall. The scrip had also underperformed the market in past one quarter, gaining 9.51% as against Sensex's 9.6% rise.
The large-cap company has equity capital of Rs 79.57 crore. Face value per share is Rs 5.
Shares of Bajaj Finserv had dropped 5.12% to settle at Rs 1,762.15 yesterday, 24 May 2016, in four sessions from a close of Rs 1,857.35 on 18 May 2016. Meanwhile, Bajaj Finserv's consolidated net profit fell 26.75% to Rs 517.95 crore on 6.67% growth in total income to Rs 2567.18 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 24 May 2016.
During the year ended 31 March 2016 (FY 2016), Bajaj Allianz Life Insurance Company transferred surplus in the policyholders' revenue account based on its audited interim financial statements and to the extent permissible as per the applicable regulations, to the shareholders' account on a quarterly basis, as against the past practice of transferring such surplus at the close of the financial year. Consequently, the results for Q4 March 2016 are not comparable.
Bajaj Finserv participates in the financing busines through its holding in Bajaj Finance and in protection business through its holding in Bajaj Allianz General Insurance Company and Bajaj Alliance Life Insurance Company.
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