Bajaj Finance on Tuesday crossed the milestone of Rs 3 trillion market capitalization for the first time.
The company has sailed through the headwinds and emerged stronger with a leaner operating model and robust growth guidance.
Top Indian companies in terms of Market Capital
Currently, Reliance Industries Ltd is the country’s most-valued firm with a market cap of ₹12.51 trillion followed by TCS and HDFC Bank with market cap of ₹10.36 trillion and ₹7.66 trillion respectively.
Stock Market Impact
The stock touched a fresh record high of₹5,152.85 on the BSE and settled at₹5,128.05, up 4.69% from its previous close with a market cap of ₹3.09 trillion.
The stock had hit a low of ₹1,783.10 per share on 27 May and since then it has advanced 190%. So far this year, it has gained over 21%.
In the past three months, the stock has gained 42 per cent, as compared to 18 per cent rise in the S&P BSE Sensex.
For the July-September quarter (Q2FY21) quarter had reported in-line performance with elevated Covid provisions, lower opex, which enabled higher-than-expected operating profit and standstill status kept the asset quality stable.
However, analysts’ outlook on the company’s long-term prospects remains positive.
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