Day after lower AUM number, Bajaj Finance shares tumble 8%

Bajaj Finance acquired 3.1 million new customers (v/s 2.6 million acquired in Q2FY23). The new customer acquisition run-rate was healthy in Q3FY23.

Shares of Bajaj Finance tumbled over 8 per cent to Rs 6,032.25 on the BSE during Thursday’s intraday trade, and closed the day at Rs 6,099.85, down over 7 per cent compared to the previous close.

Analysts said the sharp decline in the consumer finance company's stock was triggered by weaker-than-expected growth in assets under management (AUM) during the December quarter, coupled with concerns around deepening of competition from existing fintech players and new players (Jio Fin). 

BAF's AUM grew by 27 per cent year-on-year (YoY)/6 per cent quarter-on-quarter (QoQ), to Rs 2.30 trillion as of December 31, 2022.

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