Bajaj Finserv stock price up by more than 2% today

30 Jan 2023 , 01:47 PM

Bajaj Finserv’s stock price is up by more than 2%, by 1:20 p.m. today.  Benchmark indices, Nifty 50 and Sensex are down by around 0.70% by this time.

The company’s stock price is rising because of good December quarter numbers that it has posted.  Its consolidated net profit in  the quarter increased year-on-year (Y-o-Y) by about 42% to Rs 1,756 crore. Total revenue during  the quarter increased Y-o-Y by 23% to Rs 21,755 crore. Interest income increased Y-o-Y by 26% to Rs 10,430 crore.

Bajaj Finserv is a non-banking financial services company (NBFC). Its products include insurance products, loan products, deposit products etc.  The prevailing high interest scenario seems to have benefitted non-banking financial service companies, till now. Their net interest margin has increased. Net interest margin is the difference between the interest rates that they pay on the money that they borrow and the interest rate that they charge on the money that they lend to customers. 

At 1:30 p.m. Bajaj Finserv’s stock was trading at Rs 1345.55. This price is still much below its 52-week high price of Rs 3569.