Bengaluru: Shares of Bajaj Finance Shares fell to 8.3% on Thursday, a day after the shadow lender reported a modest growth in new loans and assets under management (AUM) during the third quarter.
New loans booked grew by 5.4% year-on-year in the quarter ended December 31, as against 7.9% growth in the second quarter, while AUM grew by 27% as on December 31, as against 31% in the previous quarter had increased. quarter.
Antique Stock Broking said in a note, “The performance was slightly below street expectations as the third quarter is usually strong due to festive demand.”
Antique analysts said new customer acquisition, although the highest for the quarter at 3.1 million, was slower than expected.
“The company is going strong through its existing customers, but we believe this may not continue in the long run and may see a slight deceleration in growth in the medium term.”
Bajaj Finance and its holding company Bajaj Finserv were top losers in the bluechip Nifty 50 index on Thursday, down 5% each.
Analysts at Jefferies said soft growth could weigh on the stock in the near term.
Meanwhile, other private and state-run Indian lenders reported strong provisional numbers for the third quarter, indicating loan growth remains strong.
Shares of Bajaj Finance posted their first annual decline in last 11 years, falling 5.8% against a 9.5% rise in the Nifty financial index.
New loans booked grew by 5.4% year-on-year in the quarter ended December 31, as against 7.9% growth in the second quarter, while AUM grew by 27% as on December 31, as against 31% in the previous quarter had increased. quarter.
Antique Stock Broking said in a note, “The performance was slightly below street expectations as the third quarter is usually strong due to festive demand.”
Antique analysts said new customer acquisition, although the highest for the quarter at 3.1 million, was slower than expected.
“The company is going strong through its existing customers, but we believe this may not continue in the long run and may see a slight deceleration in growth in the medium term.”
Bajaj Finance and its holding company Bajaj Finserv were top losers in the bluechip Nifty 50 index on Thursday, down 5% each.
Analysts at Jefferies said soft growth could weigh on the stock in the near term.
Meanwhile, other private and state-run Indian lenders reported strong provisional numbers for the third quarter, indicating loan growth remains strong.
Shares of Bajaj Finance posted their first annual decline in last 11 years, falling 5.8% against a 9.5% rise in the Nifty financial index.