Bajaj Finance surpasses YES Bank, Dr Reddys, Dabur India in m-cap ranking

Bajaj Finance has surpassed several companies such as Dr Reddys Laboratories, YES Bank, Dabur India, Vedanta, Gail (India), Tech Mahindra, Shree Cement and Godrej Consumer Products in overall market capitalization (m-cap) ranking after it reported robust earnings for the quarter ended June 30, 2016 (Q1FY17).

Bajaj Finance with a m-cap of Rs 60,003 crore on Monday at 10:28 am, is ahead of these eight companies which having m-cap of less than Rs 60,000 crore each, BSE data showed.

Bajaj Finance is a non-banking finance company (NBFC) engaged in consumer finance, small & medium enterprise (SME) finance and commercial lending and wealth management.

Market capitalisation or the value of a listed company is arrived at by multiplying the total number of its shares with its stock price on a particular day or time.

Bajaj Finance climbed to 37th position from the 45th position in overall m-cap ranking post June quarter (Q1FY17) results on July 25, 2016. The company stands behind automobile company Eicher Motors having m-cap Rs 61,236 crore.

Shares of Bajaj Finance have outperformed the market by surging 24% in past one-week after reported  a better than expected 54% year on year jump in net profit at Rs 424 crore in Q1FY17 against Rs 276 crore in the same quarter last fiscal. The stock hit a record high of Rs 11,410 on the BSE in intra-day trade.

The board has approved sub-division of equity shares of face value of Rs 10 each into equity shares of face value of Rs 2 each. The board has also approved a bonus of one share for every share of face value Rs 2 held.

J.P. Morgan think Bajaj Finance will likely do an equity raise over next 12-18 months to sustain current high growth and that raise will be BPS/valuation accretive.

“Whilst Bajaj Finance is one of the most expensive financial stocks in India (P/B basis), we think the premium will sustain as long as the company keeps outperforming peer set on growth,” the foreign brokerage said in a results update.

“Although Bajaj Finance’s stock is extremely expensive, the stock split (1:5) and bonus issue (1:1) declared recently would increase liquidity in the stock. This coupled with strong growth momentum and robust profitability outlook is likely to keep valuation multiples elevated in the medium term,” analyst at IIFL Institutional Equities said in a report.

Meanwhile, thus far in the current calendar year 2016, Bajaj Finance zoom 85% against 8% rise in the benchmark index. The stock was at number 59 position in overall m-cap ranking.

Since then, it surpassed 12 companies include Zee Entertainment Network, Cipla, Aurobindo Pharma, Grasim Industries, Bank of Baroda, Bharat Heavy Electricals (BHEL) and Idea Cellular in m-cap rank.

  Price on BSE in Rs Market capitalisation in Rs cr
Company 31/12/2015 25/07/2016 LTP % chg# % chg* 31/12/2015 25/07/2016 LTP
TCS 2439.20 2551.55 2712.00 6.29 11.18 480,620 502,765 534,380
Reliance Inds. 1012.60 1020.65 1016.25 -0.43 0.36 328,002 330,968 329,565
HDFC Bank 1082.75 1246.55 1255.85 0.75 15.99 273,405 316,007 318,365
ITC 218.40 251.30 254.30 1.19 16.44 263,282 303,570 307,194
Infosys 1104.55 1080.50 1081.00 0.05 -2.13 253,709 248,185 248,300
H D F C 1262.65 1380.00 1388.90 0.64 10.00 199,341 218,323 219,731
Coal India 328.70 332.90 329.35 -1.07 0.20 207,619 210,272 208,029
Sun Pharma.Inds. 819.95 802.50 835.30 4.09 1.87 197,337 193,142 201,036
Hind. Unilever 862.35 906.80 923.40 1.83 7.08 186,604 196,254 199,846
O N G C 241.90 226.70 222.45 -1.87 -8.04 206,957 193,953 190,317
St Bk of India 224.40 229.85 231.80 0.85 3.30 174,197 178,427 179,941
Tata Motors 391.25 508.90 513.30 0.86 31.19 127,697 163,704 164,991
ICICI Bank 261.45 269.15 257.30 -4.40 -1.59 151,960 156,566 149,674
Maruti Suzuki 4615.35 4550.60 4824.60 6.02 4.53 139,420 137,465 145,742
Bharti Airtel 339.90 370.30 364.00 -1.70 7.09 135,872 148,024 145,505
Larsen & Toubro 1275.65 1585.45 1556.95 -1.80 22.05 118,789 147,765 145,109
Kotak Mah. Bank 718.55 764.95 761.20 -0.49 5.94 131,674 140,427 139,739
Wipro 559.80 542.40 559.15 3.09 -0.12 138,293 131,844 135,915
I O C L 428.65 536.75 548.00 2.10 27.84 104,074 130,320 133,052
Axis Bank 449.50 538.30 556.15 3.32 23.73 106,932 128,524 132,788
NTPC 145.90 157.15 158.85 1.08 8.88 120,301 129,577 130,979
HCL Technologies 855.45 737.90 766.55 3.88 -10.39 120,559 104,107 108,148
Asian Paints 883.85 1068.85 1125.75 5.32 27.37 84,779 102,524 107,982
UltraTech Cem. 2784.95 3671.95 3754.30 2.24 34.81 76,425 100,772 103,032
Power Grid Corpn 141.20 168.65 178.25 5.69 26.24 73,870 88,231 93,253
M & M 1271.55 1460.25 1484.90 1.69 16.78 78,975 90,695 92,226
Hind.Zinc 146.60 196.10 214.15 9.20 46.08 61,943 82,858 90,485
B P C L 446.68 593.30 596.10 0.47 33.45 64,596 85,801 86,206
Bajaj Auto 2533.50 2700.00 2748.50 1.80 8.49 73,312 78,130 79,533
Bosch 18671.85 24472.70 25012.05 2.20 33.96 58,630 76,844 78,538
Lupin 1837.80 1717.20 1726.00 0.51 -6.08 82,793 77,442 77,839
Bharti Infra. 428.35 365.30 402.80 10.27 -5.96 81,244 69,285 76,398
IndusInd Bank 968.75 1156.75 1189.80 2.86 22.82 57,509 68,940 70,934
Nestle India 5824.10 7106.30 7076.00 -0.43 21.50 56,156 68,519 68,227
Hero Motocorp 2695.25 3279.70 3238.45 -1.26 20.15 53,824 65,492 64,669
Eicher Motors 16855.20 19938.35 22544.00 13.07 33.75 45,762 54,159 61,236
Bajaj Finance 6013.20 8978.30 11138.05 24.06 85.23 32,249 48,368 60,003
Shree Cement 11472.60 16072.35 16297.00 1.40 42.05 39,971 55,996 56,779
Godrej Consumer 1318.75 1644.75 1593.95 -3.09 20.87 44,908 56,009 54,279
Dabur India 276.60 306.00 305.00 -0.33 10.27 48,657 53,902 53,726
Yes Bank 726.15 1182.50 1229.20 3.95 69.28 30,462 49,809 51,776
Dr Reddy's Labs 3103.15 3474.85 2968.95 -14.56 -4.32 52,942 59,315 50,679
Vedanta 90.30 171.90 167.40 -2.62 85.38 26,771 50,963 49,629
Adani Ports 260.60 226.10 235.15 4.00 -9.77 53,969 46,824 48,698
GAIL (India) 375.40 390.95 383.00 -2.03 2.02 47,619 49,591 48,583
Zee Entertainmen 437.05 474.95 502.60 5.82 15.00 41,974 45,614 48,270
Siemens 1200.80 1347.20 1341.05 -0.46 11.68 42,763 47,977 47,758
Aurobindo Pharma 875.40 799.20 802.65 0.43 -8.31 51,123 46,767 46,969
Tech Mahindra 521.60 508.40 482.50 -5.09 -7.50 50,430 49,391 46,875
Grasim Inds 3747.25 4868.90 4928.05 1.21 31.51 34,426 45,451 46,002
                 

 


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