Bajaj Finance shares jump around 5%, hit fresh record high after company elevates Rajeev Jain as vice chairman

The company added that Jain will be re-designated as its vice chairman for three years, effective April 1. Saha, who currently serves as the deputy managing director, will also take on his new role starting April 1 until the end of his tenure on March 31, 2028.

Saha joined Bajaj Finance in 2017. He has served 25 years in the financial services industry, of which 14 years were with ICICI Bank and 11 years with non-bank entities.

Morgan Stanley said earlier this week that investors would likely view Jain's appointment to another senior role at Bajaj Finance as positive, potentially driving a rally in the stock, Reuters reported.

Jain had said in January that he intended to remain with Bajaj Finance and be actively involved in shaping its strategy.

Earlier this week, Bajaj Finserv, the parent company of Bajaj Finance, signed a share purchase agreement for the acquisition of a 26% stake owned by Allianz SE of Germany in its insurance businesses Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company.

The execution of the Share Purchase Agreements (SPAs) marks the end of a 24-year relationship and also the culmination of constructive and amicable discussions to ensure a seamless transfer of the stake of Allianz.

The acquisition of Allianz SE's stake will increase Bajaj Group's ownership in Bajaj Allianz General Insurance Company (BAGIC) and Bajaj Allianz Life Insurance Company (BALIC) to 100% from the current 74%, Bajaj Finserv said in a statement.

It said the acquisition is subject to regulatory approvals, including a nod from the Competition Commission of India and the Insurance Regulatory and Development Authority of India.

Bajaj Finance share price trend

Shares of the company have gained over 33% in the past 12 months and over 29% so far in 2025.

In comparison, the benchmark NIFTY50 index has gained over 5% in 1 year and has dropped nearly 2.5% YTD.