The market capitalisation of Bajaj Group crossed the Rs 10 lakh crore mark on Monday, with Bajaj Finserv Ltd. and Bajaj Finance Ltd. contributing over Rs 7 lakh crore.
Year-to-date, the stocks of Bajaj Auto and Maharashtra Scooters have risen by about 71.5% and 73.67%, respectively. Bajaj Finserv rose by 9.59% year-to-date, while Bajaj Finance and Bajaj Holdings and Investment Ltd. gained 12.6% and 36.72%, respectively.
With this, the group has entered the Rs 10 lakh crore market cap club along with the Adani Group, Reliance Group, Tata Group companies and HDFC Bank Ltd.
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The stock indices ended at a fresh high on Monday, gaining 2% for the first time in a year, as investors cheered the BJP's win in three Hindi heartland states.
Nifty Financial Services rose by 2.32%, while Nifty Auto gained 1.13% on Monday.
The Indian equity market may see a 10% pre-election rally in anticipation of a stable and majority government, according to Morgan Stanley.
The market, however, could experience significant fluctuations post-Lok Sabha elections, according to Morgan Stanley. These swings could range from a potential increase of up to 5% to a substantial decline of as much as 40%, depending on the results, it said.
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