Bajaj Finserv has entered an exclusive club of companies with a market capitalization (market-cap) of Rs 2 trillion after its stock price soared to a record high of Rs 12,611.65, up 2.3 percent in a range-bound market on Friday. The stock of the Bajaj Group's holding company surpassed its previous high of Rs 12,529.18, set on June 28, 2021.
At 10:47 am, Bajaj Finserv's market capitalization was Rs 200,464 lakh crore (Rs 2.0 trillion), BSE data shows. The S&P BSE Sensex was down 0.08 percent at 52,525 points at the same time. Bajaj Finserv is currently ranked 20th in terms of overall market capitalization among firms with a market capitalization of more than Rs 2 trillion. Bajaj Finance, another group company, stood at numberninth with a market capitalization of Rs 3.7 trillion.
In the last three months, Bajaj Finserv's stock has outpaced the market, rising 31% vs a 6% rise in the S&P BSE Sensex.
ICICI Securities anticipates Bajaj Finserv's consolidated revenue to remain consistent at Rs 13,846 crore in the April-June quarter (Q1FY22), supported by a pickup in all business - loan, life, and general insurance, however the lack of elevated investment gains may keep optical revenue stable.
"The finance industry could expect a 7% year-on-year (YoY) increase in topline of Rs 7,103 crore, owing to increased momentum in assets under management (AUM). Life insurance premium growth would be aided by a focus on individual regular business and an increase in renewals of 50%. While solid car volumes are projected to help general insurance sector, premium increase is expected to be 9% YoY "According to the brokerage,
However, greater provisioning in the loan industry, as well as the absence of larger investment profits in Q1FY21, are likely to keep consolidated earnings at Rs 1,043 crore, down 14% year on year. Quarterly (QoQ), the corporation may see a recovery in all businesses, with moderate profitability improvement.
As a result of its demerger from Bajaj Auto, Bajaj Finserv was founded as a pure-play financial services company. Bajaj Allianz Life (the sixth-largest private insurer), Bajaj Allianz General Insurance (the second-largest general insurer), Bajaj Finance, and Bajaj Financial Solutions are all subsidiaries of the corporation.