Bajaj Finance clocks 52-week high as firm reports 33% growth in AUM in Q2; Morgan Stanley raises TP by Rs 800
Bajaj Finance share price NSE: The NBFCs new loans booked during the July-September quarter rose by 26 per cent to 85.3 lakh as compared to 67.6 lakh recorded in the corresponding quarter of the previous fiscal.
Bajaj Finance share price NSE, Bajaj Finance share price target: Bajaj Finance shares, a subsidiary of Bajaj Finserv, on Wednesday, October 4, clocked a fresh 52-week high of Rs 8,043 apiece, surpassing an earlier peak of Rs 7,999.9 on the NSE, rising for a third straight session after the non-banking financial company (NBFC) released its Q2 business update. The NBFC's new loans booked during the July–September quarter rose by 26 per cent to 85.3 lakh as compared to 67.6 lakh recorded in the corresponding quarter of the previous fiscal. The counter gave up initial gains and ended at Rs 7,865, down Rs 102.6 or 1.29 per cent on NSE.
The company's assets under management (AUM) grew by 33 per cent to approximately Rs 290,200 crore as of September 30, 2023, as compared to Rs 218,366 crore in the same period a year ago. AUM in Q2 FY24 grew by approximately Rs 20,100 crore.
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