Shares of Bajaj Finance surged 6 percent on Tuesday after it reported the highest loan growth in the last 11 quarters.
Shares of Bajaj Finance surged 6 percent on Tuesday after it reported the highest loan growth in the last 11 quarters. The company booked 7.3 million new loans during the quarter ended June 2019 against 5.6 million in the same period last year.
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The stock gained as much as 6.1 percent to Rs 3,624 per share on BSE. At 2:00 AM, the stock was trading 4.9 percent higher at Rs 3,581 as compared to a 0.3 percent (105 points) fall in BSE Sensex at 38,615. The stock fell over 8 percent in trade yesterday, recording sharpest intra-day fall in over five months on the BSE on slowdown concerns.
Customer franchise as of June 30, 2019, stood at approximately 36.9 million as compared to 28.3 million as of June 30, 2018. During the quarter, the company acquired 2.5 million new customers, the company said in a filing.
Bajaj Finance further added that its assets under management (AUM) stood at approximately Rs 1.29 lakh crore in Q1, increasing significantly by 41.3 percent compared to Rs 91,287 crore as of June 2018 and 11.3 percent compared to Rs 1,15,888 crore at the end of March 2019.
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