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Rahul Bajaj steps down as Bajaj Finance's chairman; stock ends 4% lower

The board has appointed Sanjiv Bajaj, currently the Vice Chairman of the Company, as Non-Executive Chairman of the Company with effect from August 1, 2020

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On a consolidated basis, the net profit came in at Rs 9,62.32 crore, down 19.4 per cent YoY, from Rs Rs 1,195.25 crore in the corresponding quarter last year.

SI Reporter New Delhi

4 min read Last Updated : Jul 21 2020 | 3:54 PM IST

Shares of Bajaj Finance tumbled as much as 8.4 per cent from day's high to hit an intra-day low of Rs 3,220 apiece on the BSE on Tuesday after the company informed the exchanges that Rahul Bajaj has decided to step down as the chairman.

The stock, however, partially recovered and ended 4.3 per cent lower at Rs 3,293 per share on the BSE. In comparison, the bechmark S&P BSE Sensex settled 511 points, or 1.4 per cent, higher at 37,930 levels.

"Rahul Bajaj, Non-Executive Chairman of the Company, having been at the helm of the Company since

Topics : Rahul Bajaj Buzzing stocks Bajaj Finance Markets

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