A trader monitors financial data. (Photographer: Simon Dawson/Bloomberg)
Shares of Bajaj Finance Ltd. have now corrected more than 50 percent from the high they hit less than two months ago. The stock traded at Rs 4,880 on Feb.20, and closed at Rs 2,079 on Monday, down 55 percent from the peak.The shares have gone from trading as high as 12-times price-to-book ratio and at an average valuation of 9x P/B, to now trading at 5.5x P/B, close to its lowest valuation of 5.2x P/B, according to Bloomberg data. Th...