Bajaj Finance was up 0.62% to Rs 3927 after the company said its assets under management jumped 38.25% in Q2 September 2019 over Q2 September 2018.
Meanwhile, the BSE Sensex was up 132.64 points or 0.35% at 37,805.95.
Bajaj Finance's assets under management (AUM) rose 38.25% to approximately Rs 135,500 crore as of 30 September 2019 as compared to Rs 98,013 crore as of 30 September 2018.
Customer franchise as of 30 September 2019 stood at approximately 38.7 MM as compared to 30.1 MM as of 30 September 2018. During the quarter, the company acquired 1.9 MM new customers. New loans booked during Q2 FY20 were 6.5 MM as compared to 5.3 MM in Q2 FY19.
During the quarter, the company has entered into facility agreement with various banks to avail ECB loans of $575 million in one or more tranches. The company has not yet drawn any amount from these facilities.
Shares of Bajaj Finance surged 20.09% in a month compared to a 2.58% rise in benchmark Sensex. The stock is trading above its 100 and 200 days simple moving averages placed at 3451.69 and 3102.62.
On the BSE, 44000 shares were traded in the counter so far compared with average daily volumes of 1.4 lakh shares in the past two weeks. The stock hit an intraday high of Rs 3957.75 and an intraday low of Rs 3820.80 so far during the day.
The stock hit a record high of Rs 4112 on 30 September 2019 and a 52-week low of Rs 1912 on 8 October 2018.
On a consolidated basis, the company reported a 43% rise in net profit to Rs 1195.25 crore in Q1 June 2019 as compared to Q1 June 2018. The company's total income rose 47.5% to Rs 5808.29 crore in Q1 June 2019 as against Q1 June 2018.
Bajaj Finance is one of the leading non banking financial corporation in india. the company's product offering includes consumer durable loans, lifestyle finance, digital product finance, personal loans, loan against property, small business loans, home loans, two-wheeler and three-wheeler loans, construction equipment loans, loan against securities and rural finance.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
