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.
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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