Bajaj Finance shares rise as NBFC clocks highest ever loan book in Q4

Shares of Bajaj Finance rose over 4% in early trade today after loans booked by the consumer financier rose 20 per cent year-on-year (YoY) in the January – March quarter (Q4) of FY23. Loans climbed to 7.6 million in Q4 taking the total loan book by the lender in the financial year (FY23) to 29.6 million, its highest ever in a year.

Bajaj Finance stock gained 3.99 per cent intraday to Rs 5942.85 against the previous close of Rs 5713 on BSE. Earlier, it opened at Rs 5805.

The stock has lost 19.84 per cent in a year and fallen 9.9 per cent since the beginning of this year. Total 0.16 lakh shares of the firm changed hands amounting to a turnover of Rs 9.20 crore. The market cap of the firm rose to Rs 3.57 lakh crore on BSE.

The stock hit its 52-week high of Rs 7777 on September 22, 2022 and a 52-week low of Rs 5,235.60 on June 17, 2022.

In terms of technicals, the relative strength index (RSI) of Bajaj Finance stock stands at 43.9, signaling it's trading neither in overbought nor in the oversold zone. Bajaj Finance shares have a beta of 1.3, indicating very high volatility in a year. Shares of Bajaj Finance were trading higher than the 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.

The lender said its core asset under management (AUM) rose 29 per cent YoY to Rs 2.47 lakh crore as of March 31, 2023. AUM growth in Q4 was to the tune of Rs 16,500 crore.

Its customer franchise rose 3.1 million in the quarter under review (Q4FY23), taking it to 69.1 million. In FY23, the lender acquired 11.5 million customers, its highest ever in a financial year. Deposits of the lender aggregated to Rs 44,650 crore at the end of FY23, up 45 per cent from the year-ago period.

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