Bajaj Finance is making headlines after sharing impressive news about its growth. The company reported that its assets under management (AUM) reached about Rs 3.98 lakh crore as of December 2024, a big jump of 28% from last year when it was Rs 3.11 lakh crore. This shows that many people are borrowing money and using Bajaj Finance’s services.
In just the last three months (October to December 2024), Bajaj Finance lent out an additional Rs 24,100 crore. They also set a record by giving out over 12 million new loans during this time, which is 22% more than last year. Plus, the number of customers increased to 97.1 million, up 21% from 80.4 million a year ago, thanks to 5 million new customers joining their services.
Bajaj Finance also shared that its deposits grew to Rs 68,800 crore, which is a 19% rise from Rs 58,008 crore last year, showing that more people are saving with them.
These early results show that Bajaj Finance is doing great at growing its services and getting more customers. They’ll be releasing final details on their financial performance later this month.
Good news came from Citi, a big brokerage firm, which has put Bajaj Finance on a 90-day watch for positive growth. After this news, the company’s stock jumped by 6%, making it one of the top gainers on the Nifty 50 index. Citi mentioned that business is strong in areas like mortgages, sales financing, and new ventures. They noted a small increase in credit costs, expected to be between 2.2% and 2.5%.
According to Trendlyne, most experts recommend buying Bajaj Finance shares. Out of 31 analysts, 23 advise buying, four suggest holding, and another four recommend selling. The average price they expect for the shares over the next year is Rs 8,081, which could mean a 9% increase from the current price.
On Friday, Bajaj Finance shares closed at Rs 7,411.5, rising slightly by 0.32%, while the Sensex fell by 0.9%. The stock has gained 2.2% over the last six months and is up 12% in two years. The company’s total market value is Rs 4.59 lakh crore.
(Disclaimer: The views expressed in this article are those of the experts and do not reflect the opinion of Thellv.news)
Leave a Reply