New Delhi, March 21 -- Shares of Bajaj Finance Ltd surged over 4 percent in intra-day trading on Friday, March 21, hitting a new all-time high of Rs.9,070.00. The sharp rally came after the company announced Anup Kumar Saha as its new Managing Director (MD), replacing Rajeev Jain.

While Jain will transition to the role of Vice Chairman for a three-year term starting April 1, Saha will take over as MD until March 31, 2028. The leadership continuity and clear strategic direction have lifted investor sentiment, prompting multiple brokerages to raise their price targets on the stock.

Bajaj Finance announced that Anup Kumar Saha, who currently serves as the Deputy Managing Director, will assume the role of MD starting April 1, 2024. His term...