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☆ India's Bajaj Housing Finance sees shares more than double on debut after stellar IPO
▼ + stars: | 2024-09-16 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

Shares of India's Bajaj Housing Finance more than doubled Monday on their market debut, reflecting strong demand from investors looking to play the country's growing real estate sector. Bajaj Housing Finance's blockbuster IPO last week drew bids worth $39 billion, with shares being oversubscribed nearly 64 times. After Monday's debut the total market cap of the company was pegged at about $15.6 billion (1,331.59 billion rupees), exchange data showed. Bajaj Housing Finance, headquartered in Pune, caters to more than 88.11 million customers across the country, according to the company's website. It also provides loans against property for business or personal needs as well as working capital for business expansion purposes.

Organizations: India's Bajaj Housing Finance, National Stock Exchange, Bajaj Housing, Bajaj Housing Finance, Bajaj Finance Locations: India, Pune

☆ Bajaj Auto launches India-made Triumph bikes, shares jump to record high
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

The launch of the two models, made in partnership with UK's Triumph Motorcycles, sent Bajaj Auto shares to a record high of 4,900 rupees. The Triumph Speed 400 will be priced at 233,000 rupees ($2,834), Bajaj Auto said, but did not disclose a price for the Scrambler 400X. Bajaj will oversee the production and distribution of these bikes as part of the partnership, the two companies had said in April. With the entry of Bajaj and Hero in the premium bike space, analysts see stiff competition, loss of market share and growth concerns for Eicher. Hero MotoCorp's shares closed up 4.2%, nearly matching their 4.5% jump on Tuesday, while Bajaj Auto's shares have gained roughly 6% in the past two days.

Persons: Hero MotoCorp, Harley, Davidson, Hero MotoCorp's, Nandan Mandayam, Savio D'Souza Organizations: India's Bajaj, Eicher Motors, UK's, Bajaj Auto, Meteor, Bajaj, Triumph, Hero, Eicher, Bajaj Auto's, Thomson Locations: BENGALURU, India, Bengaluru

☆ India's Bajaj Finance beats Q4 profit expectations on strong loan demand
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, April 26 (Reuters) - Indian non-bank lender Bajaj Finance Ltd's (BJFN.NS) fourth-quarter profit beat estimates on Wednesday, led by strong customer addition on the back of demand for loans. Consolidated net profit rose 30.5% to 31.58 billion rupees ($386.4 million) for the quarter ended March 31, beating analysts' expectations of 30.93 billion rupees, according to Refinitiv IBES data. The company's customers increased by about 3.1 million in the fourth quarter, it said earlier this month. Net interest income, the difference between interest earned on loans and paid on deposits, rose 28% to 77.71 billion rupees, while interest income jumped 33.6% year-on-year. ($1 = 81.7400 Indian rupees)Reporting by Meenakshi Maidas in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

☆ India's Bajaj Auto falls after report on planned production cuts
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

Bajaj Auto did not respond immediately to Reuters' request for comment on the Economic Times (ET) report, which said that the cut would reflect pressure in Nigeria, its largest export market. Bajaj Auto is likely to produce 250,000-270,000 units in March, ET reported, citing multiple people aware of the production plans. That's lower than its average monthly production of 338,000 units in the first nine months of FY 2023, the report added. The report did not specify how many units each of the two- and three-wheelers Bajaj Auto was likely to produce. They had risen 11.3% in 2022, against a 15.31% rise in the Nifty auto index (.NIFTYAUTO).

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