Shares of Bajaj Finance Ltd are in news today after the NBFC announced its business updates for the September 2024 quarter. The assets under management AUMs of Bajaj Housing Finance rose 26% year-on-year to cross the Rs 1-lakh-crore mark in previous quarter, said the company.
In the previous session, the Bajaj Finance stock closed 3.49% lower at Rs 7433.30 on BSE. Market cap of Bajaj Finance slipped to Rs 4.60 lakh crore.
Total 0.57 lakh shares of the firm changed hands amounting to a turnover of Rs 43.40 crore on Thursday.
Bajaj Finance's relative strength index (RSI) stands at 50.9 which signals the stock is neither oversold nor overbought. A level below 30 is defined as oversold while a value above 70 is considered overbought. Bajaj Finance stock has a one-year beta of 1, indicating average volatility during the period.
The stock is trading below the 5 day, 10 day, 20 day but higher than the 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
The AUM at the end of the second quarter stood at Rs 1.02 lakh crore against Rs 81,215 crore as of September 30, 2023. In the June-September period of this year, the AUM climbed approximately Rs 5,480 crore. This is in line with the previous two quarters' growth, said the NBFC.
Loan assets stood at around Rs 89,860 crore at the end of the September quarter, marking a jump of 26.6% from Rs 70,954 crore in the year-ago period.
Bajaj Housing Finance, the property loan arm of Bajaj Finance, recently made its market debut on September 16 at a premium of 114% against the initial public offering price.
The IPO was launched to raise Rs 3,560 crore through a fresh issue of equity shares. It also involved an offer-for-sale component, which was used by Bajaj Finance to offload stake worth Rs 3,000 crore.