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Bajaj Finance gains after its arm offers interest subsidy on home loan

Bajaj Finance is currently trading at Rs. 4192.75, up by 49.05 points or 1.18%, from its previous closing of Rs. 4143.70 on the BSE.

The scrip opened at Rs. 4125.00 and has touched a high and low of Rs. 4222.25 and Rs. 4120.60 respectively. So far 30444 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 4277.50 on 06-Nov-2019 and a 52 week low of Rs. 2265.75 on 14-Nov-2018.

Last one week high and low of the scrip stood at Rs. 4241.10 and Rs. 4120.60 respectively. The current market cap of the company is Rs. 252408.56 crore.

The promoters holding in the company stood at 58.26%, while Institutions and Non-Institutions held 29.23% and 12.51% respectively.

Bajaj Housing Finance (BHFL), a 100% subsidiary of Bajaj Finance, is offering first-time homeowners a Home Loan clubbed with the benefits of Pradhan Mantri Awas Yojana (PMAY-Urban). As per PMAY’s Credit-Linked Subsidy Scheme (CLSS), eligible beneficiaries can claim an interest subsidy of up to Rs 2.67 lakh from an empanelled primary lending institutions (PLI) and thereby reduce their Home Loan EMIs. Those seeking affordable housing can apply with Bajaj Housing Finance to get a subsidised loan, with easy repayment options as well as a nominal home loan interest rate and value-added features.

The quantum of interest subsidy is conditional and depends directly on the beneficiary family’s household income.

Bajaj Finance, the lending and investment arm of Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market catering to more than 19 million customers across the country.

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