⬇️ THE RARE FALL IN BAJAJ: MARKET WONDERS WHY? 🤷🏽
Today, shares of #BajajFinance tanked nearly by 7.2% to around ₹500 after the reports of the company's asset under management numbers for the quarter that ended on December 31 closed below market expectations.
#StocksInFocus
Today, shares of #BajajFinance tanked nearly by 7.2% to around ₹500 after the reports of the company's asset under management numbers for the quarter that ended on December 31 closed below market expectations.
#StocksInFocus
Upon sharing its business update to exchanges, Bajaj Finance said that its assets under management grew by 27% year on year to approximately ₹230,850 crores as of December 31 2022, as compared to ₹181,250 crores as of December 31 2021.
AUM in Q3 FY23 grew by approximately ₹12,500 crores—on a sequential basis (QoQ) it was up 6%. The performance was slightly lower than Street expectations as the third quarter is usually a strong quarter led by festive demand.
New customer acquisition, though highest for the quarter at 3.1 million, was slower than expected, adding that new loans booked indicated that the contribution of existing customers remains significant.
The company continues to grow strong through its existing customers. But this cannot continue for long, and growth would see a slight moderation in the medium term.
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