The NBFC lost 10 productive days in Q4FY20 due to the coronavirus pandemic and the consequent lockdown. This resulted in lower acquisition of nearly 1 million loan accounts.
Reliance Industries will be in focus today as its mega rights issue opens today and closes on June 3
Profit plunges as the lender loses business worth Rs 4,500 cr in 8 days of lockdown
Nifty Bank, Nifty Private Bank and Nifty PSU Bank indices were down 5 per cent each as compared to 2.4 per cent decline in the Nifty 50 index.
Historically, the June quarter is the largest contributor to Bajaj Finance's AUM growth
In an interview with Surajeet Das Gupta, Sanjiv Bajaj, chairman and managing director of Bajaj Finserv, charts out the challenges and way forward for the economy as well as NBFCs
The Covid-19 induced slowdown, UBS believes, could have worse impact on the auto finance segment than demonetissation or global financial crisis, casting shadow on the NBFC's loan segment
Takes Rs 4,750-cr hit on assets under management
Despite the stimulus measures by the government and the Reserve Bank of India (RBI), financial sector stocks, including those of non-bank finance companies (NBFCs) have taken a hard knock
The company reported a 27 per cent AUM growth in the March 2020 quarter (Q4) compared to its 7-quarter average growth of 37 per cent
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Recently, foreign brokerage Bernstein had downgraded Bajaj Finance to 'underperform' and had cut the target price to Rs 1,740 from Rs 4,820.
At 8x FY21 estimated book, even as it is the most expensive lender, the stock remains among the preferred picks in the banking pack
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ICICI Securities, Nippon Life India Asset Management, AU Small Finance Bank, and CreditAccess Grameen also scaled their fresh peaks today.
YES Bank (down 58 per cent), RBL Bank (down 5 per cent) and Prestige Estates Projects (down 0.04 per cent) are the only three counters to trade below their respective QIP prices
The Nifty seems to have completed wave B of the bounce and wave C up on the hourly charts is expected
Growth was driven by net interest income (NII), which increased 42 per cent year-on-year (YoY) to Rs 4,537 crore in Q3FY20
Bajaj Finance closed 5 per cent higher on the BSE after the NBFC reported its highest ever quarterly consolidated net profit at Rs 1,614.11 crore in the December quarter of FY20, up 52 per cent YoY