Bajaj Finserv shares zoom nearly 8% after SEBI nod to sponsor mutual fund

Bajaj Finserv shares zoom nearly 8% after SEBI nod to sponsor mutual fund

PTIUpdated: Tuesday, August 24, 2021, 05:22 PM IST
article-image
Bajaj Finserv said, it has "received an in-principle approval from Securities and Exchange Board of India (SEBI) vide their letter dated 23 August 2021, for sponsoring a mutual fund."/ Representational image |

Shares of Bajaj Finserv Ltd increased nearly 8 per cent on Tuesday after getting approval from markets regulator Sebi for sponsoring a mutual fund.

On BSE, the scrip opened at a positive note of Rs 15,340 and jumped to its 52-week high value of Rs 16,590.15, during the day.

It finally settled at Rs 16,475.25, up 7.91 per cent over the previous close.

Following a similar trend on NSE, the scrip opened at Rs 15,367.55 and rose to Rs 16,584.8, its 52-week high value before finally closing 7.78 per cent higher at Rs 16,460.

In a regulatory filing on Tuesday, the firm said that it has "received an in-principle approval from Securities and Exchange Board of India (SEBI) vide their letter dated 23 August 2021, for sponsoring a mutual fund." Accordingly, the company would be setting up an asset management company and the trustee company, directly or indirectly, it added.

RECENT STORIES

Thousands To Lose Jobs: Microsoft Hits Workforce With Another Massive Layoff In Just Months

Thousands To Lose Jobs: Microsoft Hits Workforce With Another Massive Layoff In Just Months

Starlink Free To Roll Out India Services Once In-SPACe Approvals Are Done: Union Minister...

Starlink Free To Roll Out India Services Once In-SPACe Approvals Are Done: Union Minister...

Gold Extends Gain For 2nd Straight Day, Climbs ₹500 Per 10 Grams; Silver Trades Flat

Gold Extends Gain For 2nd Straight Day, Climbs ₹500 Per 10 Grams; Silver Trades Flat

Apple Faces Trouble In India, Chinese Workers Leaving Foxconn Factory

Apple Faces Trouble In India, Chinese Workers Leaving Foxconn Factory

Tata Steel Confident To Complete Green Steel Transition In Europe As Planned: Chairman N...

Tata Steel Confident To Complete Green Steel Transition In Europe As Planned: Chairman N...