scorecardresearch
Bajaj Finance share slips over 5% on profit-booking, among top Sensex losers

Bajaj Finance share slips over 5% on profit-booking, among top Sensex losers

Share price of Bajaj Finance closed 4.13% or Rs 100 lower  to Rs 2313 compared to the previous close of Rs 2413 on BSE

Bajaj Finance share which had gained nearly 40% in last five sessions  closed lower today in line with Sensex and Nifty. Share price of Bajaj Finance closed 4.13% or Rs 100 lower  to Rs 2313 compared to the previous close of Rs 2413 on BSE.

Amid profit-booking , Bajaj Finance saw 6.54 lakh shares changing hands amounting to turnover of Rs  152.76 crore in today's trade. The stock which is the only player from the NFBC sector on Sensex was among the top losers on index today. The stock touched an intraday low of Rs 2278.3 , down 5.59%.

The share trades  higher than 5 day, 20 day and 50 day moving averages but lower than 100 day and 200 day moving averages. Share of Bajaj Finance has lost 34.51%  during last one year and fallen 45.38% since the beginning of this year. In one week, the stock has gained 18.83%. Market cap of the firm fell to Rs 1.39 lakh crore.

Geojit Financial gave a buy call on the stock after Q4  earnings were announced. "Recording strong topline performance in the March quarter we believe that the heavy provisioning will give enough buffer in this challenging environment amidst COVID-19, eventually allowing the company to bounce back, we upgrade our rating to BUY," the brokerage said . It gave a target price of Rs 2,570 for the stock, an upside of nearly 10 per cent. "Given its strong liquidity position, healthy CRAR, strong geographical presence, growing AUM, positive outlook, and strong parentage, we upgrade to buy rating on the stock with a revised target price," the brokerage said in a report.

Published on: Jun 04, 2020, 4:45 PM IST
Posted by: Aseem Thapliyal, Jun 04, 2020, 4:45 PM IST