Bajaj Finance Share Price Trades Lacklustre After Q2 Business Update

Hello friends, in this article we will talk about Bajaj Finance. Bajaj Finance Limited a subsidiary of Bajaj Finserv, is an Indian non-banking financial company headquartered in Pune. It is one of the leading non-banking financial companies in India with a consumer base of 73 million and holds assets under management cost ₹70,050 crore. Bajaj Finance’s stake cost increased almost by a per cent to hit its new 52-week high of 8,040.55 in early trade on BSE on Wednesday a day after the company reported its September quarter business updates. In this article, we will try to give complete information about the news.

Bajaj Finance

The stock opened at 8012.05 against the last close of 7968.95 and increased by 0.9% to its 52-week high. But, the stock obliterated gains quickly and traded flat around 9:30 a.m. In the recent calendar year so far, Bajaj Finance’s share price has gained more than 21% while the equity benchmark Sensex has gained close to 8% at the same time. In an exchange filing on Tuesday, 3 October 2023, the company stated fresh loans booked during Q2FY24 grew by 26 % to 85.3 lakh as compared to 67.6 lakh in Q2FY23. You are on the right page for more information about the news, so please read the complete article.

Bajaj Finance Q2 business update

As per Bajaj Finance, Assets under management (AUM) expanded by 33% to around  2,90,200 crore as of September 30, 2023, as compared to 2,18,366 crore as of 30 September 2022 in Q2FY24 grew by roughly 20,100 crore. The company stated its deposition book stood at around 54,800 crore as of September 30 as likened to 39,422 crore as of September 30, 2022, enlisting a year-on-year (YoY) development of 39 per cent. On 30 September converged net net liquidity excess stood at roughly 11,400 crore. The company’s liquidity position remains strong. Client franchise stood at 7.66 crore as compared to 6.29 crore YoY. Scroll down to the next page for more information about the news.

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Brokerages largely positive

Among the international brokerage firms, Jefferies held a buy call on the stock with a mark price of 8,830 as it meant the robust AUM increase of the company in  Q2FY24. Morgan Stanley kept an overweight rating on Bajaj Finance with a target price of 10,300. The brokerage firm believes a 33-35 % AUM growth is possible versus the guidance of 29-31 % in FY24. Citi maintained a tepid view on Bajaj Finance with a mark worth of 7,800. Here we have shared all the information about the news if we get any information then we will update you soon. Stay tuned to us for more updates.

Gurleen Kaur

I'm a science graduate from the Ahmadu Bello University, Nigeria. My passion for writing has brought me to into the field of content.