Stock market news: Bajaj Finance shares gains over 2%

Stock market news: Bajaj Finance shares gains over 2%
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Synopsis

A total of 80,793 shares changed hands on the counter till 12:05PM (IST).

PTI
The 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 2.19 per cent up in Tuesday's trade at 12:05PM (IST). Around 80,793 shares changed hands on the counter.

The counter opened at Rs 3440 and touched an intraday high and low of Rs 3463 and Rs 3392.05, respectively, in the session so far. The stock 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 207651.13 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 same quarter a year ago.

Shareholding pattern
As of 30-Jun-2020, DIIs 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 price-to-earnings multiple of 41.28 and a price-to-book ratio of 4.11. 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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