Cash News
Shares of NBFC Bajaj Finance and Bajaj Finserv were the top Sensex gainers on Thursday amid as reports that Bajaj Housing Finance was likely to launch its initial public offering (IPO) in the first half of September this year. The company is eyeing to raise Rs 7,000 crore from this issue.
Bajaj Finance stock climbed 3.74% to Rs 7158.30 on BSE today. Market cap of Bajaj Finance rose to Rs 4.39 lakh crore.
Total 0.40 lakh shares of the firm changed hands amounting to a turnover of Rs 28.34 crore on Thursday. It was the top gainer on Sensex today. On similar lines, Bajaj Finserv stock gained 3.35% to a 52 week high of Rs 1771.50 on BSE.
Market cap of Bajaj Finance climbed to Rs 4.40 lakh crore. Market cap of Bajaj Finserv climbed to Rs 2.80 lakh crore.
On Nifty too, Bajaj Finance shares were the top gainers followed by Bajaj Finserv shares.
Bajaj Finance shares climbed 3.73% to Rs 7158 with its market cap rising to Rs 4.36 lakh crore. Shares of Bajaj Finserv rose 3.41% to Rs 1772 against the previous close of Rs 1713.50 on Nifty.
Bajaj Finance’s relative strength index (RSI) stands at 59.8 which signals the stock is neither oversold nor overbought. A level below 30 is defined as oversold while a value above 70 is considered overbought. Bajaj Finance stock has a one-year beta of 1, indicating average volatility during the period. The stock is trading below the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages. This signals the NBFC stock is trading in bearish range.
Bajaj Finance has a 100 percent stake in Bajaj Housing. Bajaj Finserv owns 51.34 percent in Bajaj Finance. The IPO will have Rs 4,000 crore fresh issue and Rs 3,000 crore offer-for-sale. The Bajaj Housing Finance stock will be listed on both BSE and NSE.
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