Bajaj Finance News

Brokerage house ICICI Securities has said that India’s first USD 1trn mcap stock could emerge by 2032 driven by peak ‘PAT/GDP’ ratio.

Depositors under the age of 60 might earn up to 7.95 percent annually. Non-senior individuals can take advantage of FD interest rates of up to 7.75 percent per annum.

According to the announcement, the interest rate for Bajaj Finance FDs with a maturity of 44 months will be 8.10 per cent p.a. for senior citizens, and 7.85 per cent p.a. for customers below 60 years of age.The new rates will be applicable to all new deposits and renewals with Bajaj Finance for a tenure of 12 to 60 months.

The average size of fixed deposits with Bajaj Finance is Rs 3.5 lakh per depositor. According to the company, it has a base of 4.25 lakh fixed depositors with more than 1 million FDs. For senior citizens, the NBFC is offering a return of 7.05 per cent on fixed deposits with a maturity period of 12-14 months.

India Stock Market closed in green amid positive global cue. Sensex closed 684 points higher to 57,919. Earlier, stock market opened with a strong rebound amid festival season.

The 30-share BSE benchmark fell 262.73 points to 56,147.23 points in initial trades. Similarly, the broader NSE Nifty dipped 70.4 points to 16,747.70 points. The BSE benchmark fell 188.32 points or 0.33 per cent to settle at 56,409.96 points on Thursday.

Sensex and Nifty, slumped for the sixth consecutive session on Wednesday. 30 stock S&P BSE Sensex slumped 509.24 points or 0.89 per cent to 56,598.28 points. NSE Nifty 50 slumped 148.80 points or 0.87 per cent to 16,858.60 points.

30-share BSE Sensex declined 319.3 points to 58,800.42 in initial trade. NSE Nifty fell by 90.8 points to 17,539. The international oil benchmark Brent crude declined 0.50 per cent to USD 90.02 per barrel.

Sensex, Nifty seen big fall post US Federal Reserve hiked interest rates. Yesterday, US FED increased interest rate by 75 basis points. Sensex closed at 59,073, Nifty at 17,629.

Seven of top 10 firms suffered a combined erosion of Rs 1,54,477.38 crore in market valuation last week. IT majors Tata Consultancy Services and Infosys emerging as the biggest laggards. Reliance Industries Limited, ICICI Bank and State Bank of India were the only gainers in the top-10 pack.

Net profit stood at Rs 1,145.98 crore in the year-ago period. Total income increased to Rs 8,535.06 crore for the quarter under review from Rs 6,658.34 crore in the year-ago period. Net Interest Income (NII) also witnessed a rise of 40 per cent at Rs 6,000 crore in the latest December quarter.

The 30-share Sensex settled 568.90 points or 0.94 per cent higher at 61,305.95. The Nifty surged 176.80 points or 0.97 per cent to a new lifetime closing high of 18,338.55. ITC was the top gainer in the Sensex pack, rising around 3 per cent.

The company had posted a net profit of Rs 690 crore in the same period of the previous fiscal.

Mobile wallet companies like Paytm and MobiKwik have also seen manifold growth in transactions as well as new users coming on board.

Founded in 2009 by Bipin Preet Singh and Upasana Taku, MobiKwik is an Indian wallet major with a network of over 15 lakh direct merchants and 55 million plus users.

Bajaj Finserv, India`s most diversified financial company, through its lending arm Bajaj Finance, is offering home loans at just 8.50% for a limited period.

Fixed deposits allow you to put in a lump sum for a pre-stipulated period of time and earn a fixed rate of interest on it.

Bajaj Finance is entering the Rs 20,000-crore life care segment under which it will finance expenses for stem cells storage units, cosmetics-based hair treatment, dental and eye care, IVF & maternity care, laproscopic cure for a dozen ailments, and elective medical/paramedical care for many other issues.

Diversified non-bank lender Bajaj Finance Tuesday said it has received regulatory approvals to set up a housing finance company.