Bajaj Finance shares in focus today on Q3 business updates

Shares of Bajaj Finance Ltd are in news today after the non-banking financial company (NBFC) released its October-December quarter business updates. Bajaj Finance stock gained 0.32 per cent to Rs 7411.50 on Friday against the previous close of Rs 7387.80 on BSE. Total 0.43 lakh shares of the firm changed hands amounting to a turnover of Rs 32.18 crore. The market cap of the firm rose to Rs 4.58 lakh crore on BSE.

Bajaj Finance's relative strength index (RSI) stands at 69, which signals the stock is neither oversold nor overbought on charts. 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 1.1, indicating high volatility during the period

The large cap stock is trading higher than the 5-day, 10 day, 20-day, 30 day, 50-day, 100-day and 200-day moving averages.

Bajaj Finance’s assets under management (AUM) climbed 28 percent year-on-year to Rs 3.98 lakh crore in Q3 compared to Rs 3.10 lakh crore a year ago. AUM rose nearly approximately Rs 24,100 crore during the third quarter of FY25.

As of December 31, 2024, its deposit book rose 19 percent to Rs 68,800 crore, up from Rs 58,008 crore a year earlier. The NBFC logged its highest-ever quarterly new loans booked rising 22% to 12.06 million in Q3 FY25 against 9.86 million in the same quarter last year.

The customer franchise expanded to 97.12 million in Q3 to 80.41 million a year ago. The company logged its largest-ever quarterly rise in customer franchise, adding 5.03 million new customers in Q3 FY25.On Friday, shares of Bajaj Finance Ltd and Bajaj Finserv Ltd rose up to 9% in early deals. The shares were among the top gainers on Sensex and Nifty.

The rally came after Citi maintained a bullish outlook on Bajaj Finance, reiterating a Buy call with a target price of Rs 8,150. The brokerage also placed the stock on a ’90-day catalyst watch,’ citing positive expectations for the company’s Q3 performance.