The general insurance business was growing slightly above the industry average, but the life insurance business continues to be under pressure says Sanjiv Bajaj of Bajaj Finance.
The general insurance business was growing slightly above the industry average, but the life insurance business continues to be under pressure.
Sanjiv Bajaj
MD
Bajaj Finserv & Investments
Bajaj Finance 's Vice Chairman Sanjiv Bajaj is pinning hopes on a stable government reviving consumer sentiment. In an interview to CNBC-TV18's Latha Venkatesh and Sonia Shenoy he said loan defaults in the first three quarters of FY14 were negligible, indicating that the worst may be behind. But he also spoke of there being higher stress in the infrastructure and two-wheeler loans segment.
The insurance business has been a mixed bag in terms of performance. The general insurance business was growing slightly above the industry average, but the life insurance business continues to be under pressure.
Bajaj sees new business (in insurance) picking up in the second half of this financial year.
transcript to follow
Bajaj Finance stock price
On May 08, 2014, at 11:10 hrs Bajaj Finance was quoting at Rs 1882.05, up Rs 3.65, or 0.19 percent. The 52-week high of the share was Rs 1890.00 and the 52-week low was Rs 965.50.
The company's trailing 12-month (TTM) EPS was at Rs 139.75 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 13.47. The latest book value of the company is Rs 671.57 per share. At current value, the price-to-book value of the company is 2.80.
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