Bajaj Finserv, engaged in lending, investment, protection and advisory, has received in-principle approval from the Securities and Exchange Board of India (SEBI) for setting up a Mutual Fund (MF).

Accordingly, the company will be setting up an asset management company and the trustee company directly or indirectly, that is itself or through its subsidiary in accordance with applicable SEBI regulations and other applicable laws.

Shares of Bajaj Finserv  are trading at Rs 15,789.95, down Rs 119.25, or 0.75%  at the Bombay Stock Exchange (BSE) on Thursday at 11:23 a.m.

The scrip has touched an intra-day high of Rs 16,124.75 and low of Rs 15,760.10. The total volume of shares traded at the BSE is 10,942.

The stock has touched its 52-week high of Rs 16,807.60 and 52-week low of Rs 5,401 on August 25, 2021 and September 24, 2020 respectively.