Bajaj Finance gains 8% despite a miss on Q4 nos; brokerages remain mixed

HDFC Securities notes that Bajaj Finance reported muted performance primarily on account of higher employee expenses

Shares of Bajaj Finance gained as much as 9 per cent to Rs 5,307 apiece on the BSE on Wednesday even as the NBFC posted lower-than-expected March quarter result (Q4FY21). The stock ended as the top gainer on the Sensex with an 8 per cent gain (Rs 5,279) on the BSE. In comparison, the benchmark S&P BSE Sensex closed 1.6 per cent higher.

The consumer durable financier, on Tuesday, reported a 42 per cent jump in consolidated net profit at Rs 1,347 crore for the fourth quarter of the fiscal ended March 2021. The company's net profit stood at Rs