Bajaj Finance share price rises on impressive Q1 data

Bajaj Finance share price rises on impressive Q1 data. Check out what brokerages say

Bajaj Finance’s share price increased in early trading on July 6 after the company reported a better figure for the quarter ended June 2022.

Bajaj Finance has recorded the highest quarterly increase in the customer franchise of 2.7 million in the first quarter of FY23 and the new loan ordered during the period was 7.4 million compared to 4.6 million per year, the company said in a press release.

The managed core asset (AUM) was established around RS 2,04,000 Crore on June 30, 2022 compared to RS 1.56,115 Crore on June 30, 2021, growth in 31 percent. Capital Adequacy Ratio (CRAR) was established at 26.2 percent on 30 June 2022.

During the quarter, the company invested 2,500 crore hospitals in the equity stock of Bajaj Housing Finance Ltd., a subsidiary that was fully owned by the company.

The company’s deposit book was established around Rs 34,100 Crore against Rs 27,972 Crore, posted growth in 22 percent.

The company’s annual general meeting is scheduled to be held on Wednesday, July 27.Catch all market actions on our direct blog

This is what the broker said about shares and the March Quarter Revenue of the Company Post:

Broking House Morgan Stanley has an overweight ranking in stock with a target in RS 8,000 per share.

This has reported the growth of a healthy AUM core and the highest customer acquisition ever. The customer franchise grew to 60.3 million, while the new loan was at 7.4 million.

Detailed updates on digital transformation & asset quality are the key to monitoring, reported CNBC-TV18.

CLSA House Brokerage has maintained a selling ranking in stock and cuts the target to RS 5,000 from RS 6,000 per share.

Growth has slowed down from the pre-bound level. Q1 is a seasonal quarter seasonally for the company & is used to grow 10%+ QOQ.

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