On Thursday, Bajaj Finance had surged 10% after the non-bank lenders every quarter. The company said its profit is more than 25.96 billion rupees ($325.37 million), beating expectations of Rs 24.41 billion, as loan loss provisions slid 57%. Also, it was focusing on protecting its margins amid increasing competition in the sector.
- Stocks in Focus: Titan, Aurobindo Pharma, Britannia Industries, and Others
- Stocks Under F&O Ban: Balrampur Chini, Aditya Birla Fashion, Biocon, and Others
- How to choose the Best Stocks for Intraday F&O trading in India?
- Vedanta Outlook for the Week (May 06, 2024 – May 10, 2024)
- Tata Steel Outlook for the Week (May 06, 2024 – May 10, 2024)
“The company has started increasing pricing across products gradually from June 2022,” it said in a statement https://www.bseindia.com/xml-data/corpfiling/AttachLive/966d6613-d2b4-4066-b68c-4eace44b5a2a.pdf, adding new loans booked surged 60.3% from a year earlier.
“Customer acquisitions and new loans trajectory has been strong, and the momentum will only get stronger with the digital ecosystem – app, web platform and the full-stack payment offerings,” Motilal Oswal analysts said in a note. The company said by January 2023; it will be on track to offer all products and services on the app.
Management’s guidance of achieving 4 trillion rupees in assets under management (AUM) looks strong. Morgan Stanley analysts wrote in a note that we expect significant loan growth acceleration on the back of steady economic growth. Asset Under Management (AUM) was up 28 per cent at Rs 2.04 trillion.