India's Bajaj Finserv rises on regulatory approval for mutual fund business

Bajaj Finserv

02/03/2023 04:15

** Shares of Bajaj Finserv  BJFS.NS  up as much as 3.13% to
1385.95 rupees, their sharpest intraday pct gain since Feb. 3
    ** Non-banking financial firm says it has received
regulatory approval to start mutual fund business
    ** Bajaj Finserv Mutual Fund, with Bajaj Finserv Asset
Management as investment manager, will offer mutual fund
products including equity, debt, and hybrid funds in active and
passive segments, co says
    ** BJFS on track for second consecutive session of gains, if
trend holds 
    ** More than 634,446 shares change hands, as of 9:25 a.m.
IST, 0.3x 30-day average of 1.9 million shares
    ** Stock down 13.18% YTD as of last close, after posting
5.65% loss in 2022

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com;))