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Bajaj Finserv Ltd is down for a fifth straight session today. The stock is quoting at Rs 1585, down 0.29% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.93% on the day, quoting at 23729.80078125. The Sensex is at 78412.16, down 1.02%.Bajaj Finserv Ltd has added around 1% in last one month.Meanwhile, Nifty Financial Services index of which Bajaj Finserv Ltd is a constituent, has increased around 2.02% in last one month and is currently quoting at 23906.6, down 0.68% on the day. The volume in the stock stood at 8.97 lakh shares today, compared to the daily average of 16.05 lakh shares in last one month.
The benchmark December futures contract for the stock is quoting at Rs 1584.55, down 0.62% on the day. Bajaj Finserv Ltd tumbled 4.91% in last one year as compared to a 11.64% rally in NIFTY and a 11.33% spurt in the Nifty Financial Services index.
The PE of the stock is 163.43 based on TTM earnings ending September 24.
Bajaj Allianz Life Insurance Company's total premium aggregated to Rs 659.35 crore for the month of November 2024, down 10.69% as against Rs 738.29 crore recorded in the same period a year ago.
Individual non-single premium were at Rs 407.95 crore (down 12.78% YoY) in November 2024. Individual single premium amounted to Rs 17.95 crore (down 17.95% YoY) and Group yearly renewable premium added up to Rs 25.77 crore (down 46.55% YoY) in the month of November 2024. However, Group single premium rose 5.58% YoY to Rs 193.90 crore during the period under review.
Bajaj Finserv is the holding company for the various financial services businesses under the Bajaj group. It participates in the financing business through its 52.45% holding in Bajaj Finance and in the protection business through its 74% holding in two unlisted subsidiaries, Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company.
The company’s consolidated net profit increased 8.9% to Rs 2,086.97 crore on 29.52% jump in total income to Rs 33,703.74 crore in Q2 FY25 over Q2 FY24.
At 14:26 IST, the barometer index, the S&P BSE Sensex, was down 280.64 points or 0.34% to 81,227.82. The Nifty 50 index lost 89.45 points or 0.36% to 24,529.55.
In the broader market, the S&P BSE Mid-Cap index fell 0.01% and the S&P BSE Small-Cap index rose 0.04%.
The market breadth was negative. On the BSE, 1,844 shares rose and 2,081 shares fell. A total of 134 shares were unchanged.
Buzzing Index:
The Nifty Media index fell 0.69% to 2,021.15. The index slipped 3.01% in three consecutive trading sessions.
Tips Music (down 3.13%), Nazara Technologies (down 2.32%), Zee Entertainment Enterprises (down 1.45%), Hathway Cable & Datacom (down 1.15%), Saregama India (down 0.86%), Network 18 Media & Investments (down 0.77%), Sun TV Network (down 0.64%) declined.
On the other hand, Dish TV India (up 2.22%), Den Networks (up 0.42%) and PVR Inox (up 0.33%) edged higher.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 1.47% to 6.816 as compared with the previous close of 6.826.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 84.8550, compared with its close of 84.8600 during the previous trading session.
MCX Gold futures for the 5 December 2024 settlement rose 0.04% to Rs 76,514.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.11% to 106.26.
The United States 10-year bond yield rose 0.33% to 4.214.
In the commodities market, Brent crude for the November 2024 settlement lost 18 cents or 0.25% to $71.96 a barrel.
Stocks in Spotlight:
Indraprastha Gas (IGL) rose 0.64%. The company informed that its board approved the issuance of 1 bonus equity share for every 1 existing equity share held (1:1) to the eligible shareholders.
Pennar Industries advanced 1.42% after the company’s board will meet on 12 December 2024 to consider entering into a joint venture to expand the business.
Bajaj Finserv added 1.14% after its subsidiary, Bajaj Allianz General Insurance Company, recorded a gross direct premium underwritten for November 2024 of Rs 1,364.67 crore, an increase of 11.95% year on year (YoY).
At 13:25 IST, the barometer index, the S&P BSE Sensex was down 214.19 points or 0.26% to 81,294.27. The Nifty 50 index lost 69.60 points or 0.28% to 24,549.40.
In the broader market, the S&P BSE Mid-Cap index fell 0.04% and the S&P BSE Small-Cap index shed 0.07%.
The market breadth was negative. On the BSE, 1,855 shares rose and 2,029 shares fell. A total of 151 shares were unchanged.
Gainers & Losers:
Shriram Finance (up 2.22%), Wipro (up 2.02%), Bajaj Finserv (up 1.43%), Infosys (up 1.11%) and HCL Technologies (up 1.05%) were major Nifty gainers.
Trent (down 1.84%), Bharti Airtel (down 1.69%), Dr Reddy Laboratories (down 1.52%), Adani Ports (down 1.48%) and Grasim Industries (down 1.32%) were major Nifty losers.
Bajaj Finserv added 1.43% after its subsidiary, Bajaj Allianz General Insurance Company recorded gross direct premium underwritten for November 2024 of Rs 1,364.67 crore, an increase of 11.95% year on year (YoY).
Stock in Spotlight:
NBCC (India) shed 0.92%. The company informed that it has received an order worth Rs 432 crore from Central University of Odisha. The order entails comprehensive project management consultancy (PMC) services for the construction of a net zero sustainable campus at Central University at Odisha Sunabeda.
NHPC shed 0.97%. The company informed that its board is scheduled to meet on Thursday, 12 December 2024 to consider the proposal of fund raising through issue of non-cumulative bonds up to Rs 2,600 crore in one or more tranche through private placement.
ISGEC Heavy Engineering rose 1.86% after the Isgec Investments Pte, Singapore has entered into sale and purchase agreement (SPA) with Triumph Excel to sell its entire stake in its arm, Bioeq Energy Holdings One, Cayman Islands.
IRB Infrastructure Developers fell 0.69%. The company’s toll collection jumped 23% to Rs 536 crore in November 2024 as against Rs 437 crore posted in November 2023.
Pennar Industries rose 0.89% after the company’s board will meet on 12 December 2024 to consider entering into a joint venture to expand the business.
Global Market:
European market declined as investors are looking forward to U.S. inflation data due Wednesday. The consumer price index data will likely influence how the Federal Reserve proceeds on interest rates at its meeting on 17th – 18th December 2024.
Asian stocks advanced on Tuesday, led by a surge in Chinese equities. This uptick was triggered by the Chinese government's announcement of significant policy changes for 2025.
China's Politburo, the country's top decision-making body, signaled a shift towards a more accommodative monetary policy. This departure from the previous 'prudent' stance is expected to stimulate the economy and support stock and property markets. The Politburo also pledged to boost domestic consumption and demand, indicating a potential increase in targeted stimulus measures.
Investors are now awaiting the Central Economic Work Conference, scheduled to begin on Wednesday, for further details on China's economic plans. Analysts anticipate the conference to outline specific policy priorities and the annual growth target.
Beyond China, market participants are closely monitoring the Reserve Bank of Australia's monetary policy decision, due later today.
Meanwhile, China's November exports rose 6.7% YoY, down from 12.7% in October, signaling global demand concerns for Chinese goods and imports dropped 3.9% YoY in November, a sharper fall from October’s 2.3% decline, underscoring economic pressures.
US stocks closed lower on Monday, with the Dow Jones Industrial Average hitting a 1.5-week low. Profit-taking and long liquidation pressured the market ahead of the release of crucial US inflation data on Wednesday. Rising Treasury yields and heightened geopolitical tensions in the Middle East, following the fall of the Assad regime in Syria, also weighed on investor sentiment.
The Dow Jones Industrial Average fell 0.54%, while the S&P 500 index fell 0.61%, and the NASDAQ Composite index fell 0.60%.
Nvidia shares declined 2.6% during regular trading hours and further dipped 0.6% in after-hours trading, amid reports of an antitrust investigation by Chinese authorities.
Oracle Corporation's stock plummeted nearly 8% in after-hours trading after the company reported weaker-than-expected quarterly earnings, highlighting increased competition in the cloud computing sector from major players like Microsoft and Amazon.
Bajaj Finserv Ltd rose for a fifth straight session today. The stock is quoting at Rs 1630.7, up 0.16% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.53% on the day, quoting at 24596.05. The Sensex is at 81427.54, up 0.58%. Bajaj Finserv Ltd has dropped around 6.75% in last one month.
Meanwhile, Nifty Financial Services index of which Bajaj Finserv Ltd is a constituent, has dropped around 2% in last one month and is currently quoting at 24562.6, up 0.41% on the day. The volume in the stock stood at 5.85 lakh shares today, compared to the daily average of 15.33 lakh shares in last one month.
The benchmark December futures contract for the stock is quoting at Rs 1633.15, up 0.1% on the day. Bajaj Finserv Ltd is down 4.1% in last one year as compared to a 17.47% gain in NIFTY and a 17.3% gain in the Nifty Financial Services index.
The PE of the stock is 167.38 based on TTM earnings ending September 24.
Bajaj Finserv Ltd dropped for a fifth straight session today. The stock is quoting at Rs 1613.55, down 1.6% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.34% on the day, quoting at 23452.35. The Sensex is at 77329.05, down 0.32%.Bajaj Finserv Ltd has eased around 8.24% in last one month.Meanwhile, Nifty Financial Services index of which Bajaj Finserv Ltd is a constituent, has eased around 2.86% in last one month and is currently quoting at 23200.3, up 0.29% on the day. The volume in the stock stood at 7.22 lakh shares today, compared to the daily average of 11.8 lakh shares in last one month.
The benchmark November futures contract for the stock is quoting at Rs 1615.25, down 1.64% on the day. Bajaj Finserv Ltd jumped 1.24% in last one year as compared to a 19.08% rally in NIFTY and a 19.21% spurt in the Nifty Financial Services index.
The PE of the stock is 168.54 based on TTM earnings ending September 24.