NFO opens on July 24, closes on August 7
Assets under management (AUM) grew by 32 per cent to approximately Rs 2.7 trillion at the end of the June quarter
Pune-based Bajaj Finserv MF is set to launch products across equity, debt and hybrid categories this month
Bajaj Finserv Mutual Fund will launch a comprehensive set of products across fixed-income, hybrid, and equity categories
Stocks to Watch today, June 5, 2023: Brent crude related stocks could see considerable action today as oil prices jumped over 2 per cent overnight, and another 2 per cent Monday morning
The Maharashtra government has signed a Memorandum of Understanding with Bajaj Finserv under which the non-banking finance company will invest Rs 5,000 crore in Pune that is expected to create 40,000 jobs, Deputy Chief Minister Devendra Fadnavis said on Saturday. After signing the MoU, Fadnavis said Pune was gradually becoming a hub for financial services and the latest development involving Bajaj Finserve would boost the sector. "I think it is the largest investment in recent times taking place in the fintech sector," Fadnavis said about the MoU.
Among banking majors, Axis Bank, ICICI Bank, HDFC Bank and State Bank of India (SBI) appear on track to hit new all-time high in the weeks ahead, charts suggest
Unless major resistances are crossed, both the HDFC and Bajaj twins are likely to face selling pressure on up moves
Bajaj Finserv's total income during the quarter rose 25 per cent to Rs 18,862 crore as compared to Rs 23,625 crore last year
The newest fund house is planning to float two equity and two hybrid schemes and one debt scheme
Every reversal in Bajaj twins is expected to face sell-off, until key levels are not conquered, with aggressive volumes.
Philippines has been increasingly coming under the lens of the Financial Action Task Force, and has already been designated as an FATF grey list country
Bajaj Finance has a retail presence that's unlike any other non-banking finance company
Ganesh Mohan named CEO, Nimesh Chandan to head investment team
Bajaj Finserv MF aims to create a tech-driven, multi-channel approach to serve investors across various touchpoints and geographies in order to build a future-ready asset management company
Bajaj Finserv, holding company of Bajaj Group's financial services businesses, on Monday reported a 42 per cent growth in consolidated net profit at Rs 1,782 crore in the quarter ended December 2022, on high double-digits revenue growth. The Pune-based company, which is into retail lending, life and general insurance, and wealth management, among others, said its consolidated revenue grew 23 per cent to Rs 21,755 crore during the reporting quarter. Its flagship Bajaj Finance recorded highest ever quarterly profit after tax of Rs 2,973 crore, up 40 per cent on-year, while its wholly-owned subsidiary Bajaj Home Finance recorded a growth of 81 per cent in net profit. Bajaj Allianz General Insurance gross written premium grew 29 per cent to Rs 3,821 crore, while the life insurer Bajaj Allianz Life recorded a growth of 22 per cent in individual rated new business premium at Rs 2,289 crore, down from Rs 2,377 crore. Its individual rated new business premium rose 22 per cent to Rs 1,255 .
Check out the trading strategies in these frontline counters in a choppy market.
The broader trend in Bajaj Finance and Bajaj Finserv stocks has turned weak and if both these stocks fail to rebound overcoming key levels, the sell-off could intensify.
Bajaj Finance acquired 3.1 million new customers (v/s 2.6 million acquired in Q2FY23). The new customer acquisition run-rate was healthy in Q3FY23.
Bajaj said even in states where it is the same party ruling as the Centre, one doesn't see the same level of focus, energy and interest