Bajaj Finance vs Jio Finance vs Shriram Finance vs Muthoot Finance: All Top Brokerages Bet on This NBFC Stock

NBFC Stocks Today: Following the Reserve Bank of India's announcement of a 50 basis points repo rate cut on Friday, the Indian stock market has reacted positively. This move has once again shifted investor focus towards banking and non-banking financial companies (NBFCs) such as Shriram Finance, Bajaj Finance, Jio Finance and Muthoot Finance.

Muthoot Finance Share Price Today

Muthoot Finance Ltd, India's largest gold loan NBFC (Non-Banking Financial Company) as of June 9th, 9:52 AM, Muthoot Finance Ltd is trading at Rs 2,502.80, marking a gain of Rs 56.60, or 2.31% for the day.

Bajaj Finance Share Price Today

Bajaj Finance Ltd, a leading NBFC under the Bajaj Finserv Group is renowned for its wide range of financial products, including consumer durable loans, personal loans, SME lending, and wealth management services. On June 9th at 10:15 AM, the stock is trading at Rs 9,693.50, marking a sharp gain of Rs 322.00 or 3.44% for the day.

The NBFC stock opened at Rs 9,550.00 and reached an intraday high of Rs 9,695.50, which is also its new 52-week high, while the low for the day was Rs 9,403.00. The stock has shown impressive upward momentum from its 52-week low of Rs 6,425.00.

Why Are Bajaj Finance Stocks Surging? Should You Buy?

The sharp rise in Bajaj Finance's stock price was driven by significant buying from various domestic and international brokerages during the block deal on June 6. These brokerages, through their mutual funds and investment arms, acquired large volumes of shares, reflecting strong institutional confidence.

ICICI Prudential Mutual Fund led the buying spree with a massive purchase of 77.92 lakh shares. This shows the fund's strong belief in Bajaj Finserv's future prospects.

SBI Mutual Fund matched this enthusiasm, also acquiring 77.92 lakh shares, underlining consistent domestic institutional support.

Morgan Stanley Asia took a substantial foreign investor position by purchasing 21.79 lakh shares, highlighting global interest in the stock.

Bank of America Securities Europe (BofA Securities) bought 13.1 lakh shares, reflecting confidence from one of the world's leading financial institutions.

Aditya Birla Sun Life Mutual Fund added 12.99 lakh shares to their portfolio, showcasing their bullish outlook on Bajaj Finserv.

HDFC Mutual Fund, another heavyweight in the Indian mutual fund space, purchased 11.66 lakh shares, indicating steady accumulation by key domestic players.

Societe Generale, a major European financial services group, acquired 10.11 lakh shares, contributing significantly from the foreign institutional investor segment.

Edelweiss Mutual Fund participated actively with 5.19 lakh shares bought, showing confidence from emerging Indian fund houses.

ICICI Prudential Life Insurance added 4.68 lakh shares, indicating insurance funds' interest in the stock.

JPMorgan India Investment Trust and JPMorgan India Fund, representing the global investment giant JPMorgan, purchased 4.65 lakh and 2.83 lakh shares respectively, adding a total of 7.48 lakh shares to their holdings.

Tata Mutual Fund bought 4.54 lakh shares, representing another major Indian institutional buyer.

Viridian Asia Opportunities, a specialist Asia-focused fund, acquired 4.46 lakh shares, reflecting niche investor interest.

SBI Life Insurance contributed with a purchase of 3.12 lakh shares, complementing SBI Mutual Fund's stake.

Citigroup Global Markets purchased 2.9 lakh shares, showing participation from another global financial giant.

Goldman Sachs Singapore Pte. and Goldman Sachs Mauritius together bought 4.46 lakh shares (2.23 lakh shares each), indicating strategic accumulation by Goldman Sachs.

DSP Mutual Fund added 0.55 lakh shares, while Nomura Singapore Ltd. purchased 0.53 lakh shares, rounding off the participation from other notable funds.

Shriram Finance Share Price Today

The stock of Shriram Finance Ltd, one of India's largest retail NBFCs, on June 9th at 10:19 AM is trading at Rs 704.90, up Rs 16.65 or 2.42% for the day. The stock opened at Rs 700.00, touched an intraday high of Rs 715.90, and a low of Rs 692.60.

Earlier in the day, at 09:35 AM, it was trading at Rs 698.45 as a top gainer in the list. Shriram Finance has shown strong price movement over the past year, with a 52-week high of Rs 730.45 and a 52-week low of Rs 493.35.

Jio Finance Share Price Today

Jio Financial Services Ltd, a subsidiary of Reliance Industries, is trading at Rs 300.65 as of June 9th at 10:25 AM IST, up 2.26% for the day. The stock opened at Rs 296.00, touched a high of Rs 301.75, and a low of Rs 295.65 during intraday trading. With a market capitalisation of Rs 1.91 lakh crore, it is classified as a large-cap stock. Over the past 52 weeks, the stock has ranged between a high of Rs 368.30 and a low of Rs 198.65.

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Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.