Bajaj Finance declines over 5% as Q2 business update disappoints Street

New loans declined sharply to 3.6 million from 6.5 million year-on-year and 5 million quarter-on-quarter.

Shares of Bajaj Finance slipped 5.4 per cent to Rs 3,286 on the BSE in the morning deals on Wednesday after the non-bank finance company (NBFC) reported weak July-September quarter (Q2FY21) business figures. In the past one month, the stock has underperformed the market by falling 5 per cent, as compared to 3 per cent rise in the S&P BSE Sensex.

The company's assets under management (AUM) grew 13 per cent year on year (YoY) at approximately Rs 1.37 trillion as of Q2FY21 as compared to Rs 1.36 trillion as on Q2FY20. New loans declined sharply to 3.6 million from 6.5