Bajaj Finance Shares Bounce Back On Strong Loan Book

Bajaj Finance Shares Bounce Back On Strong Loan Book

Share of Bajaj Finance bounced back strongly on Tuesday after falling over 8 per cent in the previous session. Shares of the Pune-based NBFC (non-banking financial company) jumped over 6 per cent to touch an intraday high of Rs. 3,624.05 on the Bombay Stock Exchange. The jump in Bajaj Finance share price came after it reported an increase in its loan book for the first quarter of the current financial year. “New loans booked during first quarter of current financial year were 7.3 million as compared to 5.6 million in Q1 FY19,” Bajaj Finance said in a regulatory filing with the BSE.

“Customer franchise as of June 30, 2019 stood at approximately 36.9 million as compared to 28.3 million as of June 30, 2018. During the quarter, the company acquired 2.5 million new customers,” it further said.

According to the company’s filing, its assets under management (AUM) stood at approximately Rs. 1.29 lakh crore as of June 30, 2019 as compared to Rs. 91,287 crore during the same period last year. Its AUM stood at Rs. 1,15,888 crore on March 31, 2019.

Bajaj Finance was the top gainer on BSE’s benchmark index Sensex. The shares closed 5.52 per cent higher at Rs. 3603.35 on the BSE outperforming the Sensex, which closed with modest gains of 10 points at 38,730.

On the NSE, Bajaj Finance shares closed at Rs. 3,604, up 5.59 per cent.

Bajaj Finance shares witnessed heavy trading volumes in today’s session as 2.63 lakh shares changed hands on the BSE compared with an average of 68,000 shares traded daily in the past two weeks.