Monday , 6 December 2021
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Bajaj Finserv moves up as its arm enters into tripartite partnership with IPPB, DoP

Bajaj Finserv moves up as its arm enters into tripartite partnership with IPPB, DoP

Bajaj Finserv is currently trading at Rs. 18040.00, up by 167.95 points or 0.94% from its previous closing of Rs. 17872.05 on the BSE.

Bajaj Finserv

The scrip opened at Rs. 18030.30 and has touched a high and low of Rs. 18147.90 and Rs. 17940.00 respectively. So far 1860 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 19319.95 on 19-Oct-2021 and a 52 week low of Rs. 6850.00 on 12-Nov-2020.

Last one week high and low of the scrip stood at Rs. 18470.05 and Rs. 17520.00 respectively. The current market cap of the company is Rs. 284411.24 crore.

The promoters holding in the company stood at 60.80%, while Institutions and Non-Institutions held 15.57% and 23.63% respectively.

Bajaj Finserv’s subsidiary company — Bajaj Allianz Life Insurance has entered into a tripartite partnership with the India Post Payments Bank (IPPB) and the Department of Posts (DoP), launching two insurance products to tap the vast rural customers across the country. The life insurer will offer term and annuity products to customers through IPPB’s extensive network of 650 branches and over 1,36,000 banking access points. The partnership aims to enable the customers, particularly from the weaker sections and living in un-banked and underserved areas, so that they can be financially secure.

Under the partnership, the rural customers can access Bajaj Allianz Life Smart Protect Goal and Bajaj Allianz Life Guaranteed Pension Goal, the term and annuity products, respectively.

Bajaj Finserv has established itself as a financial power house with interests in insurance, lending, asset management and wealth management.