Stock market news: Bajaj Finance shares shed nearly 1%

NEW DELHI: Shares of Bajaj Finance Ltd. traded 0.64 per cent down in Thursday’s trade at 10:36AM (IST). Around 46,960 shares changed hands on the counter.

The counter opened at Rs 3652.05 and touched an intraday high and low of Rs 3684 and Rs 3608.25, 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 218497.47 crore at the time of writing this report.

Key Financials

The company reported consolidated 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, domestic institutional investors held 7.26 per cent stake in the company, 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 43.43 and a price-to-book ratio of 6.8. 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.