Shares of Bajaj Finserv and its subsidiary Bajaj Finance today surged to fresh 52-week highs buoyed by strong earnings. At day’s highs, Bajaj Finserv shares soared 5% to ₹8,021 while Bajaj Finance surged 6% to ₹3,298 amid a spurt in volumes in both the counters. Bajaj Finance on Thursday reported a 50% jump in standalone net profit to ₹1,114 crore for March 2019 quarter. Bajaj Finserv reported a consolidated net profit of ₹839 crore in March quarter vs ₹637 crore last year. JM Financial said in a report said that despite broader sector headwinds, Bajaj Finance reported strong growth across different fronts: new customers, AUM growth and margin expansion.

Source: Mint May 17, 2019 07:41 UTC