Bajaj FinanceNSE 3.48 % on Friday surpassed Axis BankNSE 2.46 % in market value for the first time. The market capitalisation of the finance company stood at of Rs 134,952 crore on Friday after the stock gained 3.5 per cent to close at Rs 2,335. Axis Bank’s market capitalisation ended at Rs 134,725 crore. This makes Bajaj Finance the sixth most valuable company in the banking, financial services and insurance (BFSI) sector in India. Bajaj Finance, which gained 33 per cent so far this year as compared to a 4 per cent rise in the Sensex, is currently trading at a price-to-book ratio of 8, making it one of the expensive stocks in the BFSI space.
Though valuations of Bajaj Finance are not cheap, analysts remain positive about its prospects.
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Source:https://economictimes.indiatimes.com/markets/stocks/news/bajaj-finance-market-cap-sails-past-axis-bank/articleshow/64707564.cms
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