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Bajaj Finance hits 52 week low; slides 10% in 3 Days

13 Jun 2022 , 03:25 PM

Shares of Bajaj Finance slumped nearly 10% in three trading sessions from its previous closing high of Rs 5,952.05 posted on 8 June 2022. The stock hit its 52-week low of Rs 5,326.10 today. The stock has lost 33% from its 52-week high of Rs 8,043.50 recorded on 19 January 2021. On the BSE, 1.53 lakh shares were traded in the counter so far compared with average daily volumes of 48,000 shares in the past two weeks. The stock has declined 2.77% in one month, while the benchmark Nifty 50 index has fallen 0.04% and the Sensex has lost 0.02% during the same period. On the technical front, the stocks daily RSI (relative strength index) stood at 27.265. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. In daily chart, the stock is trading below its 50,100 and 200 days simple moving average (SMA) placed at 6417.99, 6695.05 and 7048.13 respectively. These levels will act as crucial resistance zones in near term. Bajaj Finance, the lending arm of Bajaj Finserv, is a diversified NBFCs, catering to more than 50 million customers across the country. Headquartered in Pune, the companys product offering includes consumer durable loans. The diversified NBFCs consolidated net profit surged 80% to Rs 2,419.51 crore on 25.90% increase in total income to Rs 8,630.28 crore in Q4 FY22 over Q4 FY21. Powered by Capital Market – Live News

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