Bajaj Finserv Gets SEBI Approval For Mutual Fund Business, Stock Rallies Over 7%

Bajaj Finserv Share Price: On Tuesday, Bajaj Finserv opened on the BSE at Rs 15,340, swinging to an intra day high of Rs 16,590.15 and an intra day low of Rs 15,268.60

Share price of Bajaj Finserv gained around eight per cent on Tuesday, August 24, to touch a 52-week high of Rs 16590.15, after the company received approval from market regulator SEBI for sponsoring a mutual fund. The financial services company will be setting up an asset management company (AMC). On Tuesday, Bajaj Finserv opened on the BSE at Rs 15,340, swinging to an intra day high of Rs 16,590.15 and an intra day low of Rs 15,268.60, throughout the trading session. Bajaj Finserv will set up an asset management company and the Trustee Company, directly or indirectly - itself or through its subsidiary in accordance with the applicable SEBI regulations and other applicable laws, according to a regulatory filing by the company to the stock exchanges today. On the NSE, Bajaj Finserv opened at Rs 15,367.55, registering an intra day high of Rs 16,584.80, and an intra day low of Rs 15,260.00, during the session today. On Tuesday, shares of Bajaj Finserv settled 7.91 per cent higher at Rs 16,475.25 on the BSE.