Monday , September 20 2021

Bajaj Finserv gains on getting SEBI approval for setting up mutual fund

Bajaj Finserv is currently trading at Rs. 15958.60, up by 61.90 points or 0.39% from its previous closing of Rs. 15896.70 on the BSE.

Bajaj Finserv

The scrip opened at Rs. 16098.00 and has touched a high and low of Rs. 16124.75 and Rs. 15923.75 respectively. So far 8458 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 16807.60 on 25-Aug-2021 and a 52 week low of Rs. 5401.00 on 24-Sep-2020.

Last one week high and low of the scrip stood at Rs. 16807.60 and Rs. 14852.00 respectively. The current market cap of the company is Rs. 254592.06 crore.

The promoters holding in the company stood at 60.80%, while Institutions and Non-Institutions held 15.55% and 23.65% respectively.

Bajaj Finserv has received in-principle approval from the Securities and Exchange Board of India (SEBI) for setting up a mutual fund (MF). Accordingly, the company will be setting up an asset management company and the trustee company directly or indirectly, that is itself or through its subsidiary in accordance with applicable SEBI regulations and other applicable laws.

Bajaj Finserv has established itself as a financial power house with interests in insurance, lending, asset management and wealth management.

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