Trending stocks: Bajaj Finance shares slip over 3%

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NEW DELHI: Shares of Bajaj Finance Ltd. traded 3.45 per cent down in Monday’s trade at 10:10AM (IST). Around 228,256 shares changed hands on the counter.
The scrip opened at Rs 2760.0 and touched an intraday high and low of Rs 2860.0 and Rs 2760.0, respectively, in the session so far. Shares of the company of Bajaj Finance Ltd. quoted a 52-week high of Rs 4923.2 and a 52-week low of Rs 1783.1.
Total market cap of the Bajaj Finance Ltd. stood at Rs 167471.13 crore at the time of writing this report.
S&P Global Ratings said it has lowered its ratings on Bajaj Finance to junk, reflecting the ratings agency’s view that economic risks have increased for banks and financial institutions operating in India.
Key Financials
The company reported consolidated sales of Rs 7190.93 crore for the quarter ended 31-Mar-2020, up 2.57 per cent from previous quarter’s Rs 7011.05 crore and up 35.48 per cent from the year-ago quarter’s Rs 5307.66 crore.
The net profit for latest quarter stood at Rs 948.1 crore, down 19.38 per cent from the corresponding quarter last year.
Shareholding pattern
As of 31-Mar-2020, DIIs held 8.08 per cent stake in the company, while foreign institutional investors held 21.16 per cent and the promoters 56.2 per cent.
Valuation ratio
According to …

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