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For the full year,net profit rose 1.93% to Rs 4556.77 crore in the year ended March 2022 as against Rs 4470.46 crore during the previous year ended March 2021. Sales rose 11.51% to Rs 67223.20 crore in the year ended March 2022 as against Rs 60284.69 crore during the previous year ended March 2021.
Total income during the quarter increased by 23% YoY to Rs 18,862 crore.
Profit before tax in Q4 FY22 stood at Rs 3,462 crore, up by 47% from Rs 2,359 crore in Q4 FY21.
Bajaj Finserv is the holding company for the various financial services businesses under the Bajaj group. It participates in the financing business through its 52.65% holding in Bajaj Finance and in the protection business through its 74% holding in two unlisted subsidiaries, Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company.
Bajaj Finance recorded 80% increase in consolidated net profit to Rs 2,420 crore in Q4 FY22 over Q4 FY21, mainly on account of robust AUM growth, higher net interest income and better asset performance.
Total income for Q4 FY22 rose by 26% to Rs 8,630 crore from Rs 6,855 crore in Q4 FY21.
Assets Under Management (AUM) as at 31 March 2022 were Rs 197,452 crore as against Rs 152,947 crore as at 31 March 2021, registering an increase of 29% YoY.
Gross NPA and Net NPA as of 31 March 2022 stood at 1.60% and 0.68%, respectively, as against 1.79% and 0.75% as of 31 March 2021. Provisioning coverage ratio of 58% is there on stage 3 assets. BFL holds a management and macro-economic overlay of Rs 1,060 crore as at 31 March 2022 as compared with Rs 840 crore as at 31 March 2021.
Capital adequacy ratio (including Tier-II capital) as of 31 March 2022 was 27.22%. The Tier-I capital stood at 24.75%.
Bajaj Allianz General Insurance Company's gross written premium for Q4 FY22 increased by 18% to Rs 3,300 crore as against Rs 2,787 crore in Q4 FY21. The company wrote crop & government health insurance of Rs 429 crore (up 4.5x YoY) in Q4 FY22. Net earned premium increased by 11% YoY to Rs 1,988 crore in Q4 FY22.
The claim ratio increased to 68.8% in Q4 FY22 from 64.3% in Q4 FY21, mainly due to an increase in the severity of non-Covid health claims. The combined ratio was 98.3% in Q4 FY22 as against 96.6% in Q4 FY21.
Profit after tax for Q4 FY22 stood at Rs 248 crore, down by 9% from Rs 273 crore in Q4 FY21.
As on 31 March 2022, solvency ratio was 344%, which is well above the minimum regulatory requirement of 150%. Assets Under Management (AUM), represented by cash and investments as on 31 March 2022 stood at Rs 24,633 crore (up 6% YoY).
Bajaj Allianz Life Insurance Company recorded 30% increase in new business premium to Rs 3,236 crore in Q4 FY22 from Rs 2,493 crore in Q4 FY21. The renewal premium for Q4 FY22 was Rs 2,483 crore (up 24% YoY).
Gross written premium for Q4 FY22 increased by 27% to Rs 5,719 crore from Rs 4,501 crore in Q4 FY21.
Shareholders' profit after tax during Q4 FY22 stood at Rs 48 crore, down by 79% from Rs 234 crore in Q4 FY21, impacted mainly due to higher new business strain and lower investment income.
The solvency ratio stood at a healthy 581% as on 31 March 2022 as against the minimum regulatory requirement of 150%. Assets Under Management (AUM}, represented by total investments increased by 16% to Rs 85,623 crore as on 31 March 2022 as against Rs 73,773 crore as on 31 March 2021.
“Business conditions improved significantly in Q4 of FY22 although they were volatile due to the outbreak of war in Ukraine. Although lower sales of automobiles due to supply chain problems affected the general insurance business, the overall environment was conducive and all our businesses recorded excellent growth,” Bajaj Finserv said in a statement.
The company reported 2% rise in consolidated net profit to Rs 4,557 crore on a 13% increase in total income to Rs 68,439 crore in FY22 over FY21.
The company's board has recommended a dividend of Rs 4 per share. The total amount of dividend is Rs 64 crore as against Rs 48 crore in the same period last year.
SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could surge 236 points at the opening bell.
Global markets:
Overseas, Asian stocks are trading higher on Friday after China cut a key lending benchmark to support a slowing economy.
China cut its five-year loan prime rate (LPR) by 15 basis points on Friday morning, a sharper cut than had been expected, as authorities seek to cushion an economic slowdown, though it left the one-year LPR unchanged at 3.7%.
Wall Street ended lower after a volatile session on Thursday, with Cisco Systems slumping after giving a dismal outlook, while investors fretted about inflation and rising interest rates. Shares of the networking gear maker slumped 13.73% as it lowered 2022 revenue growth outlook, taking a hit from Russia exit as well as component shortage due to China lockdowns.
New claims for U.S. unemployment benefits unexpectedly rose last week. Initial claims for state unemployment benefits increased 21,000 to a seasonally adjusted 218,000 for the week ended 14 May 2022, the highest level since January, the Labor Department said on Thursday.
Domestic markets:
Back home, the domestic equity benchmarks tumbled on Thursday, amid weak global cues. The barometer index, the S&P BSE Sensex, tumbled 1,416.30 points or 2.61% at 52,792.23. The Nifty 50 index lost 430.90 points or 2.65% at 15,809.40.
Foreign portfolio investors (FPIs) sold shares worth Rs 4,899.92 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,225.54 crore in the Indian equity market on 19 May, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slump 325 points at the opening bell.
Overseas, Asian stocks are trading lower on Thursday after heavy losses on Wall Street overnight, as investors fretted over rising global inflation.
Wall Street ended sharply lower on Wednesday, with Target losing around a quarter of its stock market value and highlighting worries about the US economy after the retailer became the latest victim of surging prices.
Back home, the key equity indices reversed intraday gains and ended with minor cuts on Wednesday. The barometer index, the S&P BSE Sensex, fell 109.94 points or 0.20% at 54,208.53. The Nifty 50 index lost 19 points or 0.12% to 16,240.30.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,254.64 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 375.61 crore in the Indian equity market on 18 May, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 36 points at the opening bell.
Overseas, Asian stocks are trading mixed on Wednesday following overnight comments from U.S. Federal Reserve Chairman Jerome Powell, who said he's resolved to raise rates until inflation comes down.
On the macro front, Japan's economy shrank 1% on an annualized basis in January-March as compared with the previous quarter, government data showed Wednesday.
Wall Street finished sharply higher on Tuesday, lifted by Apple, Tesla and other mega-cap growth stocks after strong retail sales in April eased worries about a slowing economic growth.
On the economic front, retail sales numbers came in about as expected. Consumer spending on retail rose 0.9% in April, according to the U.S. Census Bureau. Retail sales excluding autos rose 0.6% in April.
Back home, the benchmark indices ended with strong gains on Tuesday amid wide spread buying support. Strong global cues boosted investors sentiment. The S&P BSE Sensex jumped 1344.63 points or 2.54% at 54,318.47. The Nifty 50 index gained 417 points or 2.63% at 16,259.30.
Foreign portfolio investors (FPIs) sold shares worth Rs 2,192.44 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,294.42 crore in the Indian equity market on 17 May, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 34.50 points at the opening bell.
Life Insurance Corporation of India will debut on the stock markets today after a blockbuster initial public offering (IPO) that garnered Rs 21,000 crore for the government.
Global Markets:
The US Dow Jones index futures were up 58 points, indicating a strong opening in the US stocks on Friday.
Asian shares advanced on Tuesday, boosted by some tech stocks and as investors evaluated China's efforts to stamp out a Covid outbreak.
Shanghai reported three days of zero community transmission, a milestone that could lead officials to start unwinding a growth-sapping lockdown.
In the US, the S&P dipped 0.39% on Monday. The Dow Jones Industrial Average saw a similar swing, although the 30-stock index eked out a 0.8% gain at the closing bell. The Nasdaq Composite, meantime, was the session's underperformer as the carnage in tech stocks continued.
Data on Monday showed factory activity in New York state slumped in May for the third time this year amid a collapse in new orders and shipments.
Domestic Equity Market:
The equity benchmarks ended with small gains on Monday. Value buying emerged after the market tumbled in the past six sessions. The barometer index S&P BSE Sensex rose 180.22 points or 0.34% to 52,973.84. The Nifty 50 index gained 60.15 points or 0.38% to 15,842.30. In the preceding six sessions, the Nifty fell 5.40% and the Sensex declined 5.22%.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,788.93 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,428.39 crore in the Indian equity market on 16 May 2022, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 34 points at the opening bell.
The US Dow Jones index futures were down 162 points, indicating a weak opening in the US stocks on Monday.
Asian shares were mixed on Monday as investors watched for Chinese economic data. China will report data on April's industrial production, retail sales, fixed asset investment and unemployment on Monday.
Markets in Singapore, Malaysia, Indonesia and Thailand are closed for a holiday on Monday.
US stock market witnessed a relief rally on Friday. The Dow rose 466.36 points, or 1.47%, while the S&P 500 climbed 2.39%. The Nasdaq Composite jumped 3.82% and posted its strongest one-day gain since November 2020. Still, all three averages posted losing weeks.
The domestic equity indices ended with modest losses on Friday, 13 May 2022. Sharp sell-off in the last hour of trade forced the equity benchmarks to pare all gains and edge lower. The barometer index, S&P BSE Sensex fell 136.69 points or 0.26% at 52,793.62 . The Nifty 50 index lost 25.85 points or 0.16% at 15,782.15.
Foreign portfolio investors (FPIs) sold shares worth Rs 3,780.08 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,169.62 crore in the Indian equity market on 13 May 2022, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 176 points at the opening bell.
The US Dow Jones index futures were up 176 points, indicating a strong opening in the US stocks on Friday.
Asian shares edged higher on Friday after a late recovery helped US stocks cut losses overnight.
In China, Beijing officials denied the city will be locked down. Residents flocked to grocery stores amid growing concern the Chinese capital will step up curbs to fight a persistent Covid outbreak.
In the US, the S&P 500 and the Dow Jones bounced off the day's low to end slightly lower, but the Nasdaq eked out a modest gain on Thursday. Investors weighed signs of peaking inflation with fears that it could remain elevated. All three major U.S. stock indexes seesawed and the S&P 500 came within striking distance of confirming it entered a bear market.
The latest US data showed producer prices jumped 11% from April last year, signaling that consumer inflation could continue to stay high.
The domestic benchmark indices declined for the fifth straight day on Thursday, amid weak global cues. The sentiment was weak following the rate hike concerns, as well as the Ukraine war and the latest coronavirus lockdowns in China. The barometer index, S&P BSE Sensex fell 1,158.08 points or 2.14% at 52,930.31. The Nifty 50 index lost 359.10 points or 2.22% at 15,808. The 50-unit index has dropped 5.24% in five straight sessions.
Foreign portfolio investors (FPIs) sold shares worth Rs 5,255.75 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 4,815.64 crore in the Indian equity market on 12 May 2022, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could drop 155.50 points at the opening bell, tracking weak global cues.
Asian stocks were trading lower on Thursday as investors kept an eye on high inflation and tightening monetary policies. Adding to the uncertainty for investors are the war in Ukraine and Covid-19 lockdowns in China that threaten to hurt the global economy.
US stocks dropped overnight following the release of the U.S. consumer inflation data. The tech-heavy Nasdaq Composite tanked 3.18% while the broader S&P 500 shed 1.65%. The Dow Jones Industrial Average declined 1.02%.
The U.S. consumer-price index increased 8.3% in April from the same month a year ago, data released Wednesday showed, decelerating from an 8.5% annual rate in March.
The domestic equity benchmarks declined for the fourth straight session on Wednesday. The barometer index, S&P BSE Sensex fell 276.46 points or 0.51% at 54,088.39. The Nifty 50 index lost 72.95 points or 0.45% at 16,167.10. The 50-unit index has corrected 3.09% in four consecutive sessions. The broader market witnessed a major selloff with the Nifty Smallcap 100 index correcting 2.91%.
Foreign portfolio investors (FPIs) sold shares worth Rs 3,609.35 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 4,181.20 crore in the Indian equity market on 11 May 2022, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 13 points at the opening bell.
Overseas, Asian stocks are trading mixed on Wednesday as investors watched for market reaction to the release of higher-than-expected Chinese inflation data for April. The producer price index (PPI) rose 8% year-on-year, the National Bureau of Statistics (NBS) said in a statement on Wednesday, following an 8.3% rise in March. Consumer inflation also rose more than expected. The consumer price index (CPI) gained 2.1% from a year earlier, the fastest pace in five months, speeding up from 1.5% growth in March.
In US, the S&P 500 and Nasdaq ended higher on Tuesday, with big growth shares rising after the previous day's selloff as Treasury yields tumbled. Bank shares fell along with yields.
Back home, the benchmark indices ended with minor cuts on Tuesday, sliding for the third trading session. The barometer index, S&P BSE Sensex fell 105.82 points or 0.19% at 54,364.85. The Nifty 50 index lost 61.80 points or 0.38% at 16,240.05.
Foreign portfolio investors (FPIs) sold shares worth Rs 3,960.59 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,958.40 crore in the Indian equity market on 10 May, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 100 points at the opening bell.
Overseas, Asian stocks dropped to their lowest in nearly two years on Tuesday as investors shed riskier assets on worries about higher interest rates and their impact on economic growth
The S&P 500 ended below 4,000 for the first time since late March 2021 and the Nasdaq dropped more than 4% on Monday in a selloff led by mega-cap growth shares as investors grew more concerned about rising interest rates.
Back home, the benchmark indices ended with modest fall on Monday, extended losses for the second consecutive day. Weakness in global stocks weighed on investors' sentiment. The barometer index S&P BSE Sensex dropped 364.91 points or 0.67% at 54,470.67. The Nifty 50 index lost 109.40 points or 0.67% at 16,301.85.
Foreign portfolio investors (FPIs) sold shares worth Rs 3,361.80 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,077.24 crore in the Indian equity market on 9 May, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slump 198 points at the opening bell.
Overseas, Asian stocks declined on Monday as investors look ahead to the release of Chinese trade data for April. Markets in Hong Kong are closed today for a holiday.
US stock indexes extended losses for a second day on Friday as elevated US Treasury yields dragged growth shares after stronger-than-expected jobs data amplified investor fears of bigger interest rate hikes to tame surging prices.
The Labor Department's report showed nonfarm payrolls increased by 428,000 jobs in April. Unemployment rate remained unchanged at 3.6% in the month.
Back home, the domestic equity barometers ended with steep cuts on Friday, tracking negative global cues. The barometer index, S&P BSE Sensex dropped 866.65 points or 1.56% to 54,835.58. The Nifty 50 index was down by 271.40 points or 1.63% to 16,411.25.
Foreign portfolio investors (FPIs) sold shares worth Rs 5,517.08 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,014.85 crore in the Indian equity market on 6 May, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could tumble 283 points at the opening bell.
Overseas, Asian stocks are trading lower on Friday after an overnight drop on Wall Street sent the Dow Jones Industrial Average to its worst day since 2020. Technology stocks in the region sold off, following the tech-heavy Nasdaq Composite's nearly 5% drop overnight stateside.
US stocks dropped sharply on Thursday amid a broad sell-off, as investor sentiment cratered in the face of concerns that the Federal Reserve's interest rate hike the previous day would not be enough to tame surging inflation.
The focus now shifts to the U.S. Labor Department's closely watched monthly employment report on Friday for clues on labor market strength and its impact on monetary policy.
In Europe, the Bank of England on Thursday raised interest rates to their highest level since the financial crisis and warned the economy is on course to shrink under pressure from double-digit inflation. The increase to 1% from 0.75% was backed by six of the bank's nine policy makers, with three voting for a 50-basis-point move.
Back home, domestic equity benchmarks ended with tiny gains on Thursday, tracking mixed global cues. The barometer index, S&P BSE Sensex rose 33.20 points or 0.06% to 55,702.23. The Nifty 50 index added 5.05 points or 0.03% to 16,682.65.
Foreign portfolio investors (FPIs) sold shares worth Rs 2,074.74 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,229.31 crore in the Indian equity market on 5 May, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 146 points at the opening bell.
Overseas, Asian stocks are trading higher on Thursday after the U.S. central bank raised interest rates by 50 basis points but sounded a less hawkish tone than some had feared. Markets in Japan and South Korea are closed on Thursday.
China's services sector activity shrunk further in April, a private sector survey showed Thursday. The Caixin services Purchasing Managers' Index (PMI) declined to 36.2 for April, lower than March's reading of 42.
US stocks jumped sharply on Wednesday after the Federal Reserve raised rates by a widely anticipated half percentage point and Chairman Jerome Powell ruled out getting even more aggressive in the central bank's inflation-fighting campaign.
The U.S. Federal Reserve on Wednesday increased its benchmark interest rate by half a percentage point, in line with market expectations. The central bank also outlined a program whereby it will eventually cut its bond holdings by $95 billion a month. Fed Chair Jerome Powell emphasized the commitment to bringing inflation down, though he said a 75 basis points hike is “not something the committee is actively considering.”
Back home, domestic shares ended with steep losses on Wednesday, declining for the third straight day. The barometer index, S&P BSE Sensex dropped 1,306.96 points or 2.29% to 55,669.03. The Nifty 50 index lost 391.50 points or 2.29% to 16,677.60.
Foreign portfolio investors (FPIs) sold shares worth Rs 3,288.18 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,338 crore in the Indian equity market on 4 May, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 94 points at the opening bell.
Meanwhile, subscription for the initial public offering (IPO) of insurance behemoth Life Insurance Corporation (LIC) of India has opened today and it will remain open for bidding till 9th May 2022. The IPO price band is Rs 902 to Rs 949 per equity share.
Overseas, Asian stocks are trading mixed on Wednesday, with investors looking ahead to the U.S. Federal Reserve's interest rate decision expected later stateside. Markets in Japan and mainland China are closed on Wednesday for holidays.
As per reports, the U.S. Federal Reserve is expected to raise interest rates Wednesday for the second time since 2018, boosting the fed funds target rate by a half-percentage point. The central bank is also expected to launch a program to reduce its massive bond holdings by $95 billion a month, starting in June.
Wall Street stocks ended higher on Tuesday after a choppy session in which each of the major indexes fluctuated between gains and losses as a key meeting of the Federal Reserve got under way.
Back home, the equity benchmarks ended with small losses on Monday, extending losses for the second day. The barometer index, S&P BSE Sensex declined 84.88 points or 0.15% at 56,975.99. The Nifty 50 index fell 33.45 points or 0.20% at 17,069.10. The domestic stock market remained closed on Tuesday, 3 May 2022, on account of Ramzan Eid.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,853.46 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,951.10 crore in the Indian equity market on 2 May, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slump 243 points at the opening bell.
On the macro front, the monthly collection under the Goods and Services Tax (GST) has peaked to an all-time high of Rs 1.68 lakh crore in April 2022, according to a statement by the Finance Ministry on 1 May 2022. GST collection in April was Rs 25,000 crore more than the collection in March.
India's eight core sectors grew by 4.3% in March, down from 6% in February, the commerce ministry said on 29 April 2022.
Overseas, Asian stocks are trading were lower on Monday, with data released over the weekend showing Chinese factory activity contracted in April. Markets in Hong Kong, mainland China, Singapore and Taiwan are closed on Monday for a holiday.
China's factory activity contracted at a steeper pace in April as Covid lockdowns hit industrial production. The official manufacturing Purchasing Managers' Index for April declined to 47.4, a second straight month of contraction following with March's reading of 49.5, data from the National Bureau of Statistics showed Saturday.
A private survey also showed contraction in Chinese factory activity, with the Caixin/Markit manufacturing PMI coming in at 46, declining from the previous month's reading of 48.1.
Wall Street slid on Friday to its deepest daily losses since 2020, as Amazon slumped following a gloomy quarterly report, and as the biggest surge in monthly inflation since 2005 spooked investors already worried about rising interest rates.
Back home, domestic equity benchmarks went into a tailspin during fag-end of the trade on Friday, dragged by weakness in Axis Bank, Reliance Industries and Infosys. The S&P BSE Sensex lost 460.19 points or 0.8% at 57,060.87. The Nifty 50 index fell 142.5 points or 0.83% to 17,102.55.
Foreign portfolio investors (FPIs) sold shares worth Rs 3,648.30 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,490.30 crore in the Indian equity market on 29 April, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 79 points at the opening bell.
Overseas, Asian stocks are trading higher on Friday following big gains overnight on Wall Street. Markets in Japan are closed on Friday for a holiday.
Wall Street ended sharply higher on Thursday after a strong quarterly report from Meta Platforms lifted beaten down technology and growth stocks and offset worries about the US economy's contraction in the first quarter. The Facebook parent surged 17.6% after the social network reported a larger-than-expected profit and rebounded from a drop in users.
US economic growth fell 1.4% annualised in the first quarter of 2022, government data said Thursday. The data was far worse than the mild increase analysts had expected, and came after the economy had grown 6.9% in the final quarter of 2021.
Back home, domestic equity indices ended with robust gains on Thursday, tracking strong global cues. The barometer index, S&P BSE Sensex surged 701.67 points or 1.23% at 57,521.06. The Nifty 50 index rallied 206.65 points or 1.21% at 17,245.05.
Foreign portfolio investors (FPIs) bought shares worth Rs 743.22 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 780.94 crore in the Indian equity market on 28 April, provisional data showed.