Buyers bless Buffett,lift Bajaj Fin scrip

Bajaj Finserv stock rose 15% as investors cheered deal with Warren Buffett's Berkshire Hathaway.

Shares of Bajaj Finserv continued their northward rally today and rose by 15 per cent on the Bombay Stock Exchange (BSE),as investors cheered the Warren Buffett’s Berkshire Hathaway’s deal with the company’s insurance arm Bajaj Allianz General Insurance.

In the intra-day session,the stock spurted by 15 per cent,touching a 52-week high of Rs 607 on the BSE. But it pared its initial gains and ended the day with a gain of 3.27 per cent at Rs 544.70,amid a highly volatile broader market.

In the previous session,shares of Bajaj Finserv had jumped by 20 per cent,hitting its upper limit of Rs 527.45.

Similarly,the stock ended the day with a gain of 2.81 per cent at Rs 545.15 on the National Stock Exchange,after hitting a one-year high level in the intra-day trade.

On the volume front,over 93 lakh shares of the company were traded on the two bourses.

US-based Berkshire Hathaway yesterday said it plans to enter the Indian non-life insurance sector as a corporate agent of Bajaj Allianz General.

As part of its planned India entry,Berkshire Hathaway,led by billionaire Warren Buffett has incorporated Berkshire India to sell and distribute general insurance products in the country.

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Meanwhile,the BSE key index Sensex ended the day on a flat note with a loss of 3.31 points at 18,486.45.