Bajaj Finance up 4% as company enters Rs 20,000-crore life care segment

Shares of Bajaj Finance went up by nearly 4% on Wednesday as the company is entering the Rs 20,000-crore life care segment. The stock gained 3.65% to Rs 6,868.40 -- its 52-week high -- on BSE.

At NSE, shares of the company jumped 3.95% to Rs 6,869 -- its one-year peak. Bajaj Finance is entering the Rs 20,000-crore life care segment under which it will finance expenses for stem cells storage units, cosmetics-based hair treatment, dental and eye care, IVF & maternity care, laproscopic cure for a dozen ailments, and elective medical/paramedical care for many other issues.

The Pune-based company, which claims to be the first to enter this segment in the country, expects to net around Rs 1,000 crore in sales over the next five years from this business hoping to an encore of the massive demand for such segmental funding in the Western markets where life care segment is a booming business.