Bajaj Finance Q1 profit rose 28% to Rs 6,081 crore, driving an 8% stock surge. FIIs bought Rs 3,624 crore, lifting the Nifty for a third day.
Bajaj Finance reported a 28% jump in June-quarter profit. Its shares rose 8.1%.
Profit after tax reached Rs 6,081 crore. The lender cited growth in core income and an improvement in asset quality.
The broader market moved higher. The Nifty added 0.27% to close at 24,383.60. The Sensex rose 0.21% to 78,094.64. Both indices extended gains for a third straight session.
Foreign institutional investors bought Rs 3,623.51 crore in Indian equities Thursday, exchange data showed.
Vinod Nair of Geojit Investments said the market's upward move continued. Profit booking emerged at higher levels, he added. The recovery's staying power depends on the ongoing earnings season and a reduction in global risks, Nair said.
TCS and Infosys fell. Eternal and ITC also slid. Infosys, which holds an AlphaScala Alpha Score of 57, was among the laggards. The IT index saw profit booking after its recent rally, Nair said.
Bajaj Finserv and Mahindra & Mahindra led the gainers. Adani Ports and Reliance Industries also rose.
Brent crude climbed 0.45% to $89.43 a barrel, according to the crude oil profile.
In Asia, South Korea's KOSPI jumped 17.9%. The Nikkei 225 and Hang Seng index ended higher. US markets finished higher Thursday.
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