Bajaj Finance shares soar 45.5% since April; m-cap nears ₹5 lakh crore
₹8,192. With this exceptional performance, Bajaj Finance's shares now stand just 1.63% away from joining the ₹5 lakh crore market capitalization club. Considering the stock's peak price, its market capitalization previously reached ₹4,95,124 crore.
Currently holding a market capitalization of 4,91,966 crore, the company secures the 10th position among the most valued Indian listed firms, according to the exchange data. In terms of long-term performance, Bajaj Finance shares have delivered a whopping return of 5920% in the last decade. On October 5, the company's board approved raising ₹8,800 crore by selling its shares to institutional investors and ₹1,200 crore through convertible warrants to promoter Bajaj Finserv.
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) grew by 33% to approximately ₹2,90,200 crore as of September 30, 2023, as compared to ₹2,18,366 crore as of September 30, 2022. AUM in Q2FY24 grew by approximately ₹20,100 crore.
Deposits grew 39% YoY to ₹548 billion, and the consolidated net liquidity surplus stood at approximately ₹11,400 crore as of September 30, 2023. Its customer franchise stood at 76.6 million at the end of Q2 FY24 vs. 62.9 million in Q2 FY23.
It added 3.6 million customers during the quarter and 7.4 million in H1FY24, as per the company's exchange filing. 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
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