Bajaj Finance hits new high post Q1 results; stock rebounds 7%

The stock hit new high of Rs 2,536, up 2%, bouncing back 7.4% from intra-day low of Rs 2,360 on the BSE.

Bajaj Finance hit new high of Rs 2,536, up 2%, bouncing back 7.4% from intra-day low on the BSE.

The stock dipped 5% to Rs 2,360 on the BSE in noon deal trade on profit booking after the company reported a consolidated net profit of Rs 8.36 billion for the quarter ended June 2018 (Q1FY19). It had a profit of Rs 4.61 billion in the same quarter year ago.

Net interest income (NII) during the quarter review increased 46% at Rs 25.78 billion against Rs 17.61 billion over the previous year quarter.

Analyst on an average had expected