Bajaj Finance Shares Soar 45.5% Since April; M-Cap Nears ₹5 Lakh Crore
Since April Of This Year, Dalal Street Has Witnessed Strong Performance From
Bajaj Finance, A Prominent Indian NBFC, Resulting In A Gain Of 45.5% Thus Far.
With This Outstanding Performance, Bajaj Finance’s Shares Are Now Just 1.63%
Away From Joining The Club Of Companies With Market Capitalizations Of At Least
5 Lakh Crore. The Stock’s Market Capitalisation At Its All-Time High Was
4,95,124 Crore Rupees.
According To Exchange Data, The Company Currently Ranks 10th Among The Most
Valuable Indian Listed Companies With A Market Capitalization Of 4,91,966
Crore. The Shares Of Bajaj Finance Have Produced A Staggering Return Of 5920%
Over The Course Of The Last Ten Years In Terms Of Long-Term Performance.
According To Exchange Data, The Company Currently Ranks 10th Among The Most
Valuable Indian Listed Companies With A Market Capitalization Of 4,91,966
Crore. The Shares Of Bajaj Finance Have Produced A Staggering Return Of 5920%
Over The Course Of The Last Ten Years In Terms Of Long-Term Performance.
According To The Company’s Q2FY24 Business Update, New Loans Booked Jumped
26% To ₹8.53 Million, Compared To ₹6.76 Million In Q2FY23.
Assets Under Management (AUM) Increased From 2,18,366 Crore On September 30,
2022 To Roughly 2,90,200 Crore On September 30, 2023, A 33% Increase. AUM Increased
By Over 20,100 Crore In Q2FY24.
Deposits Increased 39% Yoy To ₹548 Billion, And As Of September 30, 2023,
The Consolidated Net Liquidity Surplus Was Over ₹11,400 Crore. At The End Of Q2
FY24, It Had 76.6 Million Customers, Up From 62.9 Million In Q2 FY23. According
To The Company’s Exchange Filing, It Added 3.6 Million Users During The Quarter
And 7.4 Million In H1FY24.
Domestic Brokerage Firm Bob Capital Markets Kept Its Bullish Stance On BAF And
Believes The Company’s Robust AUM Growth, Diverse Business Model, Efficient
Execution, And Seasoned Leadership Team Will Enable It To Withstand Growing
Competition And Manage Asset Quality Risks In New Ventures Such As
Microfinance.
The Brokerage Valued The Standalone Business At 6.6x FY25E ABV (
₹8,619/Share), A 20% Premium To The Long-Term Average, And Added ₹482/Share For
Housing Arm BHFL (2x FY25E BV) And ₹4/Share For Securities Subsidiary BFSL (15x
FY25E EPS) To Arrive At Its SOTP-Based Target Price Of ₹9,105 Apiece,
Maintaining A ‘Buy’ Rating.
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investment decisions.
Source: By Mint