Shares of Bajaj Finance Ltd are in the spotlight today after the non-banking financial company (NBFC) announced its October-December quarter business updates. Bajaj Finance’s stock rose 0.32 per cent to Rs 7411.50 on Friday, compared to the previous closing of Rs 7387.80 on the BSE. A total of 0.43 lakh shares of the company changed hands, resulting in a turnover of Rs 32.18 crore. The firm’s market capitalization increased to Rs 4.58 lakh crore on the BSE.
Bajaj Finance’s relative strength index (RSI) is at 69, indicating that the stock is neither oversold nor overbought on the charts. A level less than 30 is regarded as oversold, whereas a value greater than 70 is considered overbought. Bajaj Finance’s stock has a one-year beta of 1.1, indicating strong volatility throughout that period.
The large-cap stock is trading above the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, and 200-day moving averages.
Bajaj Finance’s assets under management (AUM) increased by 28 per cent year on year in Q3 to Rs 3.98 lakh crore, up from Rs 3.10 lakh crore the previous year. AUM increased by roughly Rs 24,100 crore during the third quarter of FY25.
As of December 31, 2024, its deposit book increased by 19per centt to Rs 68,800 crore, up from Rs 58,008 crore the previous year. The NBFC had its highest-ever quarterly new loan bookings, up 22% to 12.06 million in Q3 FY25 from 9.86 million in the same quarter the previous year.
The customer franchise increased to 97.12 million in the third quarter from 80.41 million the previous year. In Q3 FY25, the firm added 5.03 million new subscribers, the highest quarterly increase in customer franchise in its history. In early trading on Friday, shares of Bajaj Finance Ltd and Bajaj Finserv Ltd soared by up to 9%. The stock was among the top gainers on the Sensex and Nifty.
The rise came after Citi reiterated its Buy call on Bajaj Finance, with a target price of Rs 8,150. The firm also put the stock on a ’90-day catalyst watch,’ citing high expectations for the company’s Q3 results.
