Bajaj Finserv on Thursday said it has completed the acquisition of Allianz SE's stake in Bajaj General Insurance and Bajaj Life Insurance, worth Rs 12,190 crore and Rs 9,200 crore, respectively. Bajaj Finserv, along with Bajaj Holdings & Investment and Jamnalal Sons, acquired the foreign insurer's 23 per cent stake in the businesses, marking the largest transaction in the Indian insurance sector.
For the younger Bajaj sibling, life after Bajaj Auto is all about revving up the financial services business.
'Research shows that customers want their loans instantly.' 'So the team asked can we reduce the time for approval from 5 days to 30 seconds?' 'It took the company two years of hard work to tear apart our operations and processes and rebuild them through fresh ideas and by leveraging technology.' 'We reduced the time of loan approval to 3 hours and another year to get it down to 30 seconds,' Sanjiv Bajaj tells Surajeet Das Gupta.
Bajaj Finserv - the holding company of Bajaj group's financial services business - has laid out plans for the next five years. During this period, it is eyeing 18-22 per cent compound annual growth rate (CAGR) in net profit at Rs 21,000-24,000 crore on a consolidated basis.
India is in a much better position to deal with the challenges related to growth and inflation, said Sanjiv Bajaj, president of industry body CII. According to official figures, India's retail inflation continues to remain above the Reserve Bank's tolerance level of 6 per cent since January, while the economic growth in the first quarter of the fiscal was 13.5 per cent, lower than the central bank's estimate of 16.2 per cent. "I don't want to say we don't have our own challenges with growth, with inflation but we are in a much better position and credit must go to everybody including the central and state governments.
'Stay invested but progressively reduce risk. Beyond a point, the objective should shift from maximising returns to avoiding unpleasant surprises.'
'Pick a sum insured that realistically covers major hospitalisation costs in your city.'
'Trading without strict position sizing, stop-loss discipline, or a clear exit plan almost guarantees losses.' 'Chasing tips, reacting to intraday noise, or assuming frequent trading improves outcomes are equally damaging habits.'
The 2025 contraction marks the steepest decline in both the number of billionaire promoters and their aggregate wealth since 2012.
Munich-based Allianz will explore new opportunities in the Indian insurance market not only as an investor but also as an operator, the company told Business Standard on Tuesday. "India will continue to be one of Allianz's main growth markets, and Allianz will explore new opportunities to further grow its participation in the Indian insurance market in the future, not only as an investor but also as an operator," the company said.
The Rashtriya Swayamsevak Sangh will mark its centenary year with events beginning from Vijayadashami on October 2, which will include an address by its chief Mohan Bhagwat in the presence of former president Ramnath Kovind who will be the chief guest.
Noted industrialist Rahul Bajaj will step down as non-executive chairman of Bajaj Finance on July 31, after being at the helm of the company for over three decades.
Bajaj Auto says that their motorcycle mix is profitable, and they have also seen a boost in three-wheelers and exports growth
Bajaj Auto Chairman Rahul Bajaj on Friday said he will step down as the managing director of the company with effect from March 31, 2005.
Bajaj Auto fears adverse impact on its exclusive loan deal with Bajaj Finance
Bajaj Auto, the country's second largest two-wheeler maker, on Friday announced the company's new structure with five broad strategic units under different heads but remained silent on which unit would lead.
Rahul Bajaj's attempts to induct his cousin Niraj Bajaj and son Sanjiv Bajaj on the boards of Bajaj Sevasram and Jamnalal Sons -- the two group holding companies -- has hit a wall.
Bajaj Auto, the country's second largest two-wheeler manufacturer, may cut production as it sees a slowdown in motorcycle sales after the current festival season.
He is survived by two sons, Rajiv Bajaj and Sanjiv Bajaj, and a daughter Sunaina Kejriwal.
Bajaj plans to double his share in the global market in three years.
Setting the ambitious target of becoming the third largest two-wheeler maker in the world, Bajaj Auto Ltd on Thursday announced entry into the Indonesian market with the launch of its 180 cc Pulsar DTS-i motorcycle.
Bajaj Auto Limited would open assembly plants in Indonesia and Brazil in a bid to boost overseas presence even as it has lined up four launches in the next six months to drive further domestic growth, a top company official said.
'Opportunity is there in each segment of the market. There is opportunity in affordable and specifically governed by government initiatives as well as for housing for all.'
NBFCs with a proven track record, supported by the brand values of reputed corporate, can play a key role in bringing the benefits of banking and economy to the underserved and newer segments of India.
While the most expensive bicycle from the company's stables costs about Rs 11,00,000, in a few weeks, it will launch a bicycle priced at Rs 13,50,000.
A day after the RBI raised the benchmark lending rate by 35 basis points, Kotak Mahindra Bank Managing Director Uday Kotak on Thursday said the central bank may go for one more rate hike to bring inflation below its upper tolerance level of 6 per cent. Yesterday, the RBI indicated that it wants inflation to be within the band first and then move towards the target of 4 per cent, Kotak said at the CII Global Economic Policy Summit 2022. "My sense is that there could be one more rate hike and that may be the time for thinking about a pivot, but we got to watch very closely the data, and maybe around 6.5 per cent as it looks today, subject to what happens to the world, subject to what happens to oil, subject to what happens to many other things," he said.
The IPO boom in 2023 added four new promoters to the billionaires' list.
'Avoid going overweight on gold. But maintain a 10 per cent allocation via sovereign gold bonds,' Bajaj Capital MD Sanjiv Bajaj tells Sarbajeet K Sen.
'Even where we are now today, the growth rates are very good, but we need to get to 8-9 per cent growth in the years to come.'
Two wheeler giant Bajaj Auto is all set to be carved into separate auto and finance entities, to be headed by group chief Rahul Bajaj's sons Rajiv and Sanjiv respectively.
Foreign investors pumped in Rs 11,119 crore in the Indian equities in December, making it the second consecutive monthly inflow, despite increasing concerns over the re-emergence of Covid-19 cases in some parts of the world. However, foreign portfolio investors (FPIs) have turned cautious in recent days. The inflow in December was much lower compared to Rs 36,239 crore invested by FPIs in the month of November, data with the depositories showed.
After three consecutive years of infusing huge funds, foreign portfolio investors retreated from the Indian equity markets in a big way in 2022 with the highest-ever yearly net outflow of nearly Rs 1.21 lakh crore. The huge outflow, which surpasses by a big margin the previous record of Rs 53,000 crore net withdrawal in 2008, came amid aggressive rate hikes by central banks globally but 2023 is expected to be better on positivity about overall macroeconomic trends in India, experts said. Apart from global monetary tightening, volatile crude, rising commodity prices along with Russia and Ukraine conflict led to an exodus of foreign money in 2022.
Denying he was charting out succession plans for his two sons, Bajaj Auto chairman Rahul Bajaj on Monday said work was being divided between the two brothers - Rajiv and Sanjiv - for operational efficiencies.
The returns from liquid funds, currently, look better than what savings accounts of leading banks are offering, points out Sarbajeet K Sen.
He was a plain talker and never hesitated to put forth his point of view
'India is showing a reasonable amount of resilience, but we are still living in a world that is quite fragile.' 'That's why we hope that the government will continue to invest significantly in public capex so that we are able to ride through this cycle till the private sector is able to play its part in investing and adding to the capex cycle.'
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