Bajaj finance share: Bajaj Finance shares saw fierce purchases on 3 February today. The stock has closed at Rs 8423.80 with a gain of 5.28 per cent on BSE. The company released great results in the December quarter of FY25. In addition, investors are fiercely betting in this stock amidst the hopes of increasing conjunctival after the budget and deducting interest rates by RBI. With today’s boom, the company’s market cap has increased to Rs 5.21 lakh crore. The 52-wheel high of the stock is Rs 8,440 and 52-wheel is Rs 6,190.
RBI rate cut expected
There is a strong possibility of cutting interest rates by the Reserve Bank at the MPC meeting to be held later this week. The Moneycontrol Poll has been expected to cut 25bps. Experts have suggested that the benchmark interest rate in India may decrease to 50-75 basis points (BPS) in 2025. Income tax relief in the budget is expected to promote conjugation. Cut in interest rates will further strengthen this hope.
Brokerage opinion on bajaj finance
Axis Securities maintained their BUY rating on this stock on 30 January. Brokerage targeted Rs 9050 per share based on strong results and possibilities of development. Axis Securities said that he sees some improvement in the collection, and the sectors where there was pressure, the default speed may gradually decrease. In addition, the company hopes that the credit cost will also gradually decrease. Motilal Oswal has repeated his neutral rating with a target of Rs 8300 per share.
Bajaj Finance quarterly results
The company’s consolidated net profit in the October-December quarter has increased by 18 per cent on an annual basis. The company has earned a profit of Rs 4,308 crore during this period. This is more than analysts estimates. The company got support from a strong increase in asset under management (AUM) in the December quarter.
In the December quarter, Bajaj Finance’s Net Interest Income (NII) Q3 FY24 increased by Rs 7655 crore to Rs 9382 crore from Rs 7655 crore. This strong performance received a strong increase in asset under management (AUM), which increased by 28 per cent to Rs 3.98 lakh crore by 31 December 2024, compared to Rs 3.11 lakh crore in the same period last year.
Talking about asset quality, Bajaj Finance’s gross non-performing assets (GNPA) increased to 1.12 per cent by 31 December 2024, which was 0.95 per cent a year ago. Similarly, Net NPA increased from 0.37 percent to 0.48 percent. Provisioning coverage ratio on stage 3 assets was 57 percent. In Q3 FY25, provisions for loan loss increased significantly to ₹ 2043 crore, which was ₹ 1,248 crore last year. Loan loss and provision were 2.16 per cent on the average of financial assets.
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