Bajaj Finance nears record high; stock surges 44% in one month

Analysts' outlook on Bajaj Finance's long-term prospects remains positive.

Shares of Bajaj Finance moved higher by 4 per cent to Rs 4,678 on the BSE in intra-day trade on Wednesday, thereby surging 44 per cent in the past one month. The stock of the non-banking finance company (NBFC) was trading at its highest level since March 2020. It was 5 per cent away from its record high level of Rs 4,923, touched on February 20, 2020, in intra-day trade.

For the July-September quarter (Q2FY21) quarter, Bajaj Finance had reported in-line performance with elevated Covid provisions, lower opex, which enabled higher-than-expected operating profit and standstill status kept the asset quality