Bajaj Finance biggest Nifty50 loser despite strong Q2 performance; should you Buy? Check brokerages' targets

Bajaj Finance stock dropped on Friday, October 21, as investors' sentiment turned negative post announcement of second quarter results. A 12:20 PM, the stock quoted a price of Rs 7,265 apiece, declining 2.25 per cent on NSE -- biggest loser, against 0.50 per cent rise in the benchmark index. The downtrend was seen despite the Bajaj Group company reporting heathy numbers in the July-September quarter of the current fiscal.

The Pune headquartered non-banking financial company (NBFC) reported an 88 per cent jump in its consolidated net profit at Rs 2,781 crore for the quarter. It had posted a net profit of Rs 1,481 crore in the same period of the previous fiscal. Consolidated assets under management stood at Rs 218,366 crore for the reporting quarter, which was up 31 per cent versus Rs 166,937 crore reported in Q2FY22.

Brokerages' targets on Bajaj Finance Stock

Net interest income of the company rose by 31% to Rs 7,001 crore during the same period with new loans booked up by 7% to 67.6 lakh YoY. The company said its gross NPA and net NPA stood at 0.24 per cent and 0.11 per cent, respectively, against 0.39 per cent and 0.24 per cent in the year-ago period.

New loans booked during the September quarter grew by 7 per cent to 6.76 million against 6.33 million in the corresponding period of the last fiscal.

Bajaj Finance stock has yielded a positive return of 4 per cent in the past 6 months. The 52-week range is Rs 8,045-Rs 5,220 Currently, the company's market cap is around Rs 443000 crore, according to the NSE website.