Shares of NBFC Bajaj Finance and Bajaj Finserv were the top gainers on the Sensex on Thursday. Bajaj Housing Finance is preparing to launch an IPO in the first fortnight of September this year. The company is hoping to raise Rs 7,000 crore through the IPO.
Bajaj Finance share today rose 3.74% to Rs 7158.30 on BSE.
The market cap of Bajaj Finance has increased to Rs 4.39 lakh crore. On Thursday, a total of 0.40 lakh shares of the company were traded, giving a turnover of Rs 28.34 crore. It was the biggest gainer on the Sensex today. Similarly, Bajaj Finserv shares rose 3.35% on the BSE to a 52-week high of Rs 1771.50.
The market cap of Bajaj Finance reached Rs 4.40 lakh crore. The market cap of Bajaj Finserv reached Rs 2.80 lakh crore. The Relative Strength Index (RSI) of Bajaj Finance is at 59.8, which indicates that the stock is neither oversold nor overbought. A level below 30 is defined as oversold, while a value above 70 is considered overbought. The one-year beta of Bajaj Finance stock is 1, which indicates the average volatility during this period. The stock is trading below its 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day and 200-day moving averages. This indicates that the NBFC stock is trading in a bearish range.
Bajaj Finance holds 100 percent stake in Bajaj Housing. Bajaj Finserv holds 51.34 percent stake in Bajaj Finance. The IPO will consist of a fresh issue of Rs 4,000 crore and an offer-for-sale of Rs 3,000 crore. Bajaj Housing Finance stock will be listed on both BSE and NSE.
