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Bajaj Finance jumps on entering into strategic partnership with Vodafone Idea for financing offers

Bajaj Finance is currently trading at Rs. 5213.00, up by 69.50 points or 1.35% from its previous closing of Rs. 5143.50 on the BSE.

The scrip opened at Rs. 5143.50 and has touched a high and low of Rs. 5244.25 and Rs. 5103.35 respectively. So far 67674 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 5,244.25 on 17-Dec-2020 and a 52 week low of Rs. 1783.10 on 27-May-2020.

Last one week high and low of the scrip stood at Rs. 5,244.25 and Rs. 4810.00 respectively. The current market cap of the company is Rs. 313354.46 crore.

The promoters holding in the company stood at 56.12%, while Institutions and Non-Institutions held 32.01% and 11.55% respectively.

Bajaj Finance (BFL) and Vodafone Idea (ViTM) have entered into a strategic partnership to facilitate easy access to smartphones at affordable EMIs, along with 6 months and 1-year pre-paid plans from ViTM. Enhancing affordability in device financing, the partnership unlocks ease of 4G access for ViTM customers, by enabling them to get a smartphone of their choice and an annual or half yearly ViTM prepaid recharge plan at zero down payment and Easy EMI’s from BFL.

As part of the partnership the EMI will be calculated basis the total billed amount including the price of the smartphone and the recharge. Thereafter, the amount will be divided into 6 to 12 monthly installments to derive the EMI amount.

Bajaj Finance, the lending company of Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market catering to more than 40 million customers across the country.

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