Bajaj Finance Q3 Business Update: Bajaj Finance, one of the country’s largest and well-known NBFCs, had a stellar December quarter. Bajaj Group’s non-banking finance company (NBFC) added a record number of customers in December and its assets under management (AUM) grew 28 per cent year-on-year. In such a situation, when the stock market opens on Monday, there will be an eye on its shares, which are currently more than 5 percent downside from one year’s record high. On Friday, January 3, it closed at Rs 7411.50 on BSE.
Bajaj Finance Q3 Business Update: Highlights
Bajaj Finance’s assets under management (AUM) jumped 28 percent year-on-year to Rs 3.98 lakh crore in the December 2024 quarter. Its deposit book increased by 19 percent during this period to Rs 68.8 thousand crore by December 2024. Apart from this, it disbursed 1.20 crore new loans which is the highest ever for Bajaj Finance in a single quarter. It increased by 22 percent on annual basis. Customer franchise increased from 8.04 crore to 9.71 crore during this period. It increased by Rs 50.3 lakh in the December quarter, which is the highest in any quarter.
How was the situation in one year and how will it be in the future?
Bajaj Finance shares were at Rs 7829.95 on January 9, 2024, which is a one-year record high level for its shares. This rise of shares stopped here and within two months from this high level, it slipped by about 21 percent to the price of Rs 7829.95 on March 6, 2024, which is the record low level of one year for its shares. Shares recovered at lower levels and have recovered about 20 percent on the basis of buying, but it is still more than 5 percent downside from one year’s high. Global brokerage Citi on January 2 placed Bajaj Finance on 90-day positive catalyst watch and maintained buy rating with a target price of Rs 8150.
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