In the first half of Tuesday’s trading session, Bajaj Finserv shares traded almost 3% higher on the BSE, at 15,785 per share. The stock has increased by more than 75% year-to-date and has increased by more than 140 percent in a year. Bajaj Finserv is a financial services company that specializes in wealth management, insurance, lending, and asset management.
The firm was founded in 2007 due to its demerger from Bajaj Auto Limited to expand the group’s financial services interests. The Bajaj Group’s financial services activities are housed under Bajaj Finserv, which is a holding company.
“The company expects to gain from synergies and its client database by leveraging the digital platform to deliver low-cost, high-value services.” Bajaj Finserv’s net profit fell by more than 31% to Rs 833 in the quarter ending June 2021.
Read also: Bajaj Finserv gets SEBI nod to sponsor mutual fund
In the same quarter of the previous fiscal, the firm had a net profit of Rs 1,215 crore. In Q1FY22, the consolidated total income fell to 13,949 crores, down from 14,192 crores the previous quarter.
Bajaj Finserv owns Bajaj Allianz Life (BALIC), Bajaj Allianz General Insurance (BAGIC), Bajaj Finance (BFL), and Bajaj Financial Solutions, the sixth biggest private insurer in India. The SEBI clearance for Bajaj Finserv’s mutual fund operation comes at a time when MFs have grown in popularity, with the industry’s assets under management (AUM) reaching an all-time high of 35 lakh crores at the end of July.
