Bajaj Finance Shares Rallies on 10% Loan Growth in Q1, Hits 10.97 Million Mark!

Today, Bajaj Finance’s shares gained attention with a 10% increase in fresh loans during the first quarter, achieving 10.97 million loans compared to last year's 9.94 million.
Bajaj-Finance-Shares-Rallies-on-10-Loan-Growth-in-Q1-Hits-10.97-Million-Mark

Bajaj Finance shares were highlighted today after the company reported significant growth. The NBFC saw a 10% increase in fresh loans during the first quarter, reaching 10.97 million compared to 9.94 million last year.

The firm’s deposit book also saw a notable increase, growing 26% year-over-year to nearly Rs 62,750 crore as of June 30, 2024, up from Rs 49,944 crore on the same date in 2023.

Assets under management (AUM) experienced a robust increase of 31%, amounting to approximately Rs 3,54,100 crore as of the end of June 2024, significantly up from Rs 2,70,097 crore the previous year. The AUM for the first quarter of FY25 rose by about Rs 23,500 crore.

On the trading front, Bajaj Finance’s stock performance reflected investor confidence, closing 1.25% higher at Rs 7251.80 on Wednesday. The company’s market capitalization also increased to Rs 4.48 lakh crore.

The stock’s trading volume was notable too, with 0.73 lakh shares being traded, which resulted in a turnover of Rs 47.91 crore on Monday. This activity underscores the market’s positive reaction to the financial results.

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