Shares of Bajaj Finserv hit a new high of Rs 15,875, up 4 per cent on the BSE in the intra-day trade on Tuesday, after the company said it has received an in-principle approval from Securities and Exchange Board of India (Sebi) for sponsoring a mutual fund. The stock surpassed its Monday’s high of Rs 15,416.05 touched in the intra-day trade.