Bajaj Finance Surges 3% as Assets Cross Rs 3 Lakh Crore Mark in Strong Q3 Performance

4 Jan 2024 , 11:16 AM

Bajaj Finance stock surged over 3% on January 4 after reporting a strong December quarter performance. At the time of wriitng, Bajaj Finance shares were trading 3% higher at Rs 7,609.00 on the NSE which is a 3.30% increase than the previous close. 

Assets Under Management (AUM) grew by 35% YoY to Rs 3.11 lakh crore, marking the first time it crossed the Rs 3-lakh-crore milestone.

Deposit book also saw a significant 35% increase, reaching Rs 58,000 crore.

The quarter saw Bajaj Finance booking 98.6 lakh new loans, showing a YoY growth of 26%. Total franchise grew by 22% YoY, reaching 8.4 crore, and the company acquired 38 lakh new customers.

Liquidity position remained strong at Rs 11,600 crore, and the company raised Rs 8,800 crore through a Qualified Institutional Placement (QIP) in November.

Post-QIP, Bajaj Finance completed fundraising worth Rs 10,000 crore, including Rs 1,200 crore through a preferential issue of shares to promoter Bajaj Finserv.

On January 3, Bajaj Finance shares closed half a percent lower at Rs 7,381.20 on the NSE, with a 12% rise in the past year, slightly underperforming the Nifty benchmark’s 18% gain during the same period.

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