Bajaj Group joins ₹10 Lakh crore market cap club, Bajaj auto and Bajaj finance surge

On December 4th, the Bajaj Group surpassed ₹10 lakh crore in market capitalization, securing its place as the fifth business conglomerate to achieve this milestone, joining the ranks of Tata, Reliance Industries led by Mukesh Ambani, HDFC Bank, and the Adani Group.

Bajaj Auto notably propelled the group's valuation this year, contributing nearly ₹75,000 crore, followed closely by Bajaj Finance, which added approximately ₹60,000 crore to the overall market capitalization.

Bajaj Group's Steady Rise Amidst FY24 Performances

The launch of the Triumph Bike and strong performance in the first half of FY24 significantly boosted Bajaj Auto's shares. Similarly, Bajaj Finance saw a surge after impressive numbers and recent fundraising efforts.

Since April, the Pune-based conglomerate's market value has soared by 41%, with Bajaj Auto marking a 63% increase during the same period. Notably, Bajaj Finance and Bajaj Finserv account for 73% of the group's combined valuation.

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Analysts Bullish on Bajaj Finance

In H1FY24, Bajaj Finance reported a robust 33% growth in assets under management (AUM), reaching ₹2.9 lakh crore by Q2FY24. Analysts at BOB Capital Markets express confidence in Bajaj Finance, highlighting its strong AUM growth, diverse business model, and adept leadership to navigate risks in newer ventures like microfinance.

Bajaj Group's Position Among Top Indian Conglomerates

In comparison, the Tata Group continues to lead with an aggregate market capitalization of ₹26.4 lakh crore, followed by Reliance at ₹16.6 lakh crore. HDFC Group stands third at ₹14.2 lakh crore, and the Adani Group settles at the fourth position with a valuation of ₹11.9 lakh crore, according to Bloomberg data.