Shares of Bajaj Finance ended with 4 per cent gains today, adding Rs 1,509 crore to its market valuation, after the company said it is entering the Rs 20,000-crore life care segment.
The stock ended the day with 3.78 per cent gains at Rs 6,877.05 on BSE. Intra-day, it rose by 4.12 per cent to Rs 6,899.80 -- its 52-week high.
At NSE, shares of the company went up by 4 per cent to close at Rs 6,874.20.
The company's market valuation moved up by Rs 1,509.16 crore to Rs 37,048.16 crore.
Bajaj Finance is entering the Rs 20,000-crore life care segment under which it will finance expenses for stem cells storage units, cosmetics-based hair treatment, dental and eye care, IVF and maternity care, laparoscopic cure for a dozen ailments and elective medical/paramedical care for many other issues.
The Pune-based company, which claims to be the first to enter this segment in the country, expects to net around Rs 1,000 crore in sales over the next five years from this business. There is massive demand for such segmental funding in Western markets where life care segment is a booming business.
