Stock market update: Bajaj Finance shares shed 1%

Stock market news: Bajaj Finance shares shed 1%

Stock market news: Bajaj Finance shares shed 1%
ETMarkets.com
Synopsis

A total of 57,035 shares changed hands on the counter till 11:17AM (IST).

PTI
Shares of Bajaj Finance quoted a 52-week high of Rs 4923.2 and a 52-week low of Rs 1783.1.

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NEW DELHI: Shares of Bajaj Finance Ltd. traded 0.56 per cent down in Friday's trade at 11:17AM (IST). Around 57,035 shares changed hands on the counter.

The scrip opened at Rs 3516.5 and touched an intraday high and low of Rs 3601.4 and Rs 3516.5, respectively, in the session so far. Shares of the company of Bajaj Finance Ltd. quoted a 52-week high of Rs 4923.2 and a 52-week low of Rs 1783.1.

Total market cap of the Bajaj Finance Ltd. stood at Rs 216403.42 crore at the time of writing this report.

Key Financials
The company reported consolidated net sales of Rs 6634.93 crore for the quarter ended 30-Jun-2020, down 7.73 per cent from previous quarter's Rs 7190.93 crore and down 14.37 per cent from the year-ago quarter's Rs 5801.25 crore.

The net profit for latest quarter stood at Rs 962.32 crore, down 19.49 per cent from the corresponding quarter last year.

Shareholding pattern
As of 30-Jun-2020, domestic institutional investors held 7.26 per cent stake in the firm, while foreign institutional investors held 21.24 per cent and the promoters 56.2 per cent.


Valuation ratio
According to BSE data, the stock traded at a P/E multiple of 43.02 and a price-to-book ratio of 6.74. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Bajaj Finance Ltd. belongs to the NBFC - Consumer industry.
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