Following the release of steady Q2 earnings data, Bajaj Finance shares increased 6.1% to an intraday high of Rs 7,088. Bajaj Finance was also the biggest gainer in the Nifty 50. As of right now, the stock is 10% below its 52-week peak of Rs 7,884.90, which it simultaneously reached on October 23, 2023.
The financial company reported a 13% year-over-year increase in Q2 FY25, ending at Rs 4,013.7 crore on October 22, compared to Rs 3,550.8 crore in the same quarter last year. It should be mentioned that the company made Rs 2,544.11 crore when it sold its share in Bajaj Housing Finance.
The group company of Bajaj Finserv, Bajaj Finance, increased its profits by 13% to Rs 4,000 crore in profit after taxes for the quarter. In the quarter, Bajaj Finance booked 9.69 million new loans and added 3.98 million new clients, demonstrating a robust increase in customer acquisition. Bajaj Housing Finance Limited (BHFL), the housing finance division, also contributed by increasing its profit after taxes by 21%.
The company’s insurance divisions, Bajaj Allianz General Insurance, and Bajaj Allianz Life Insurance, likewise demonstrated strong growth in the interim. While Bajaj Allianz Life Insurance recorded a modest 3% increase in net new business value to Rs 245 crore, Bajaj Allianz General Insurance reported a 6% increase in profit after tax to Rs 494 crore.
Over the last five trading sessions, Bajaj Finance’s stock has returned 2%. Nonetheless, the stock has dropped 2.5% over the past six months and nearly 7% over the past month. 3% of investors’ money has been lost by Bajaj Finance’s stock so far this year. Over the past year, the shares of the finance major have dropped by just over 9%.
In contrast, the benchmark index Nifty 50 has been down 5.25% over the last month and 1.5% during the last five days. Nonetheless, the index has returned 13% so far this year and nearly 10% over the last six months. Over the past year, the index has returned 27.5%.
