Bajaj Finance exceeds £ 3bn in market capitalization as shares rise

The stock reached a record high of 5,152.85 to BVB and established at 5,128.05, up 4.69% from its previous close, with a market capitalization of 3.09 trillion.

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The stock had reached a minimum level of 1,783.10 per share on May 27 and has since advanced 190%. So far this year, it has gained over 21%.

Currently, Reliance Industries Ltd is the most appreciated company in the country with a market capitalization of 12.51 trillion, followed by TCS and HDFC Bank with market capitalization of 10.36 trillion and 7.66 trillion, respectively.

Investors continued to buy Bajaj Finance amid the normalization of trading activity, after the relaxation of the blocking edges in India. It sailed through the winds and came out stronger with a weaker operating model and a robust growth guide.

In the September quarter, management pointed out that the company has seen an improvement in the traction of disbursement from one month to another on product segments. It has restarted business start-ups, with the exception of EMI / Wallet retail lending, which will resume in January-March 2021.

Although he has taken a cautious approach to disbursements – as credit bureaus have not been updated – he believes this will increase in the next 1-2 months.

The company reported a quarter in line on all fronts. However, analysts recommended caution regarding disbursements that led to a decrease in assets under management. Gross non-performing assets for the September quarter fell 37 basis points quarterly to 1.03%, helped by depreciation of more than 470 million and net recoveries.

“Although this position will continue for certain products in the future, we expect payments to have a healthy improvement from one quarter to another in fiscal year 2021 with the start of the festive season,” Motilal Oswal said in a note to investors.

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