BENGALURU: Shares of Bajaj Finance fell up to 8.3% on Thursday, an afternoon after the shadow lender reported reasonable expansion in new loans and belongings underneath control (AUM) all the way through the 3rd quarter.
New loans booked within the quarter ended Dec. 31 have been up 5.4% year-on-year, towards a 7.9% building up in the second one quarter, whilst AUM grew 27% as of Dec. 31, when put next with a 31% leap within the earlier quarter.
“This performance was slightly lower than street expectations as third is usually a strong quarter led by festive demand,” Antique Stock Broking stated in a be aware.
New buyer acquisition, regardless that absolute best for the quarter at 3.1 million, used to be slower than anticipated, Antique analysts stated, including that new loans booked indicated that the contribution of present shoppers stays important.
“The company continues to grow strong through its existing customers, but we believe this cannot continue for long and growth may see slight moderation in the medium term.”
Bajaj Finance and its protecting corporate Bajaj Finserv with a 5% decline, have been the highest drags at the bluechip Nifty 50 index on Thursday.
Softer expansion would possibly weigh at the inventory within the near-term, Jefferies analysts stated.
Meanwhile, different non-public and state-run Indian lenders reported tough provisional numbers for the 3rd quarter, indicating credit score expansion stays sturdy.
Shares of Bajaj Finance recorded their first annual decline ultimate yr in 11, falling 5.8%, towards a 9.5% building up in Nifty monetary index.
New loans booked within the quarter ended Dec. 31 have been up 5.4% year-on-year, towards a 7.9% building up in the second one quarter, whilst AUM grew 27% as of Dec. 31, when put next with a 31% leap within the earlier quarter.
“This performance was slightly lower than street expectations as third is usually a strong quarter led by festive demand,” Antique Stock Broking stated in a be aware.
New buyer acquisition, regardless that absolute best for the quarter at 3.1 million, used to be slower than anticipated, Antique analysts stated, including that new loans booked indicated that the contribution of present shoppers stays important.
“The company continues to grow strong through its existing customers, but we believe this cannot continue for long and growth may see slight moderation in the medium term.”
Bajaj Finance and its protecting corporate Bajaj Finserv with a 5% decline, have been the highest drags at the bluechip Nifty 50 index on Thursday.
Softer expansion would possibly weigh at the inventory within the near-term, Jefferies analysts stated.
Meanwhile, different non-public and state-run Indian lenders reported tough provisional numbers for the 3rd quarter, indicating credit score expansion stays sturdy.
Shares of Bajaj Finance recorded their first annual decline ultimate yr in 11, falling 5.8%, towards a 9.5% building up in Nifty monetary index.