Bajaj Finance Share Price
The stock was trading at Rs 5985 in late trade on Friday, down 1.88 percent from the previous day. The stock price touched a low of Rs.5941 and a high of Rs.6139.95 during the trading session on Friday. Also, the market capitalization of the Bombay Stock Exchange index is Rs. 3,62,083 crores.
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Market experts believe that moderate growth in the company’s AUM (assets under management, AUM) during the October-December 2022 quarter was the main reason for the decline. In the third quarter, the company’s AUM increased to Rs 2.3 lakh crore from Rs 1.8 lakh crore a year ago. At the same time, on a quarterly basis, it has grown by Rs 12,500 crore (5.7 percent).
Down from 52-week high
Investors should note that on January 19, 2022, the highest level of share price was Rs. It had reached 8,043. In such a scenario, Bajaj Finance shares are now trading around 26 percent down from their 52-week high.
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What is the brokerage’s advice?
Broking firm CLSA said the stock is overpriced. Brokerage CLSA has assigned a target price of Rs 6,000, while Jefferies has given a ‘Hold’ rating on the stock with a target of Rs 8,160. Apart from this, Kotak Institutional Equities has also assigned a Sell rating on the stock with a target of Rs 5,800.
Motilal Oswal’s rating for Buy
According to broking firm Motilal Oswal Financial Services, AUM growth was less than expected. CRAR remained at 23.1 per cent on quarter-on-quarter basis, clearly indicating lower utilization of funds with lower growth. Motilal Oswal has ‘Buy’ rating on the company.
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Increase in consumer franchise
Antique Broking said that Bajaj Finance Ltd recorded the fastest growth in terms of customer franchises on a quarter-on-quarter basis in the quarter ended December 2022. Meanwhile, consumer votes have increased by 31 lakhs. The subscriber base stood at 6.6 crore at the end of December 2022, compared to 5.54 crore in the third quarter a year ago.