Bajaj Finserv’s share price rose about eight percent on Tuesday, August 24, reaching a 52-week high of Rs 16590.15, after the company received approval from market regulator SEBI to sponsor a mutual fund. The financial service provider is going to set up an asset manager (AMC). On Tuesday, Bajaj Finserv opened on the BSE at Rs 15,340, fluctuating to an intraday high of Rs 16,590.15 and an intraday low of Rs 15,268.60, during the trading session.
Bajaj Finserv will establish a wealth management company and the Trustee Company, directly or indirectly – itself or through its subsidiary in accordance with applicable SEBI regulations and other applicable laws, according to a regulatory filing by the company today with the exchanges.
On the NSE, Bajaj Finserv opened during today’s session at Rs 15,367.55, with an intraday high of Rs 16,584.80 and an intraday low of Rs 15,260.00.
On Tuesday, shares of Bajaj Finserv were trading 7.91 percent higher at Rs 16,475.25 on the BSE.