Despite the record, new loan growth in the third quarter, Bajaj Finance shares fell 8%

1.  Search here ...  Despite the record, new loan growth in the third quarter, Bajaj Finance shares fell 8%  Home - Markets - Despite the record, new loan growth in the third quarter, Bajaj Finance shares fell 8% Markets  January 5, 2023       

2.  Over its previous 몭nish of Rs. 6,573.60, the Bajaj Finance shares fell 8.24% to a day low of Rs. 6,032.25.    Despite announcing record new loan and customer franchise growth in the third quarter (Q3) of the current 몭nancial year 2022–23, shares of Bajaj Finance dropped signi몭cantly in Thursday’s (December 05, 2023) session (FY23).    The stock fell 8.24% from its previous closing of Rs. 6,573.60 to a day low of Rs. 6,032.25 before recovering somewhat.   The shadow lender said in an exchange statement that the third quarter of FY23 had the highest-ever quarterly growth in its client base, which reached 3.1 million.    According to the statement, there were 66 million customers as of December 31, 2022, up from 55.4 million over the same time in the previous year.   Additionally, according to Bajaj Finance, the number of new loans booked in the third quarter of FY23 (7.8 million vs. 7.4 million in Q3 FY22) was the highest amount ever.   Thursday’s (December 05, 2023) decrease in share price was caused by lower-than-expected assets under management (AUM) growth, according to an analyst, who recommended booking a pro몭t at the present price.   Outlook   Tips2trades, A R Ramachandran, said that AUM growth in Bajaj Finance’s Q3 FY23 statement was lower than anticipated, which has caused a signi몭cant decline in stock price today.    Bajaj Finance is approaching oversold territory on the daily charts, and short sellers are encouraged to take pro몭ts at the present price.    In the next few days, buying should be employed if a green candle closes over Rs 6,490 with goals between Rs 6,696 and Rs 6,895. A total of 1.41 lakh shares were traded today compared to 20,000 on average during the previous two weeks.    At the counter, there was an 87.05 crore rupee turnover. Market

3. capitalization (m-cap) for the non-banking 몭nancial company was Rs 3,71,044.28 crore. There were 22,585 purchase orders and 64,692 sell orders on the BSE.   According to publicly accessible data from Trendlyne, the stock has an average target price of Rs 8,536.70, which indicates a possible upside of 40.26% for the stock.   However, Thursday’s (December 05, 2023) closing price of the stock was below the 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.   The 14-day relative strength index (RSI) for Bajaj Finance was 27.79. Oversold is de몭ned as a number below 30, and overbought as a value beyond 70. The price-to-equity (P/E) ratio for the company’s shares is 44.07. You can share this post!         Previous article Saving Consumers from Becoming Cheapskates in SBI General Insurance  Next article  Nexus Venture Plans to Invest $700 million in US and Indian Software Businesses   Related Articles Leave a Reply Your email address will not be published. Required 몭elds are marked * Comment *

4. Name * Email * POST COMMENT Search here ...  Latest Update RECENT POPULAR COMMON  January 5, 2023 Nexus Venture Plans to Invest $700 million in US and Indian Software Businesses    January 5, 2023 Despite the record, new loan growth in the third quarter, Bajaj Finance shares fell 8%  January 5, 2023 Saving Consumers from Becoming Cheapskates in SBI General Insurance 

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8. Nexus Venture Plans to Invest $700 million in US and Indian Software Businesses    January 5, 2023 Despite the record, new loan growth in the third quarter, Bajaj Finance shares fell 8%  January 5, 2023 Saving Consumers from Becoming Cheapskates in SBI General Insurance  Popular Categories Trending Post Campaigns Digital Media In A Seed Funding Round, Contlo Raises $3.5 Million   Fund Raising Marketing Markets Politics Startups Paytm Shares Decline By 3% As A Rs 850 Billion Repurchase Falls Short Of Investors’ Expectations  Bharat Krushi Seva Receives INR 43 Million in Startup Money from Renowned Investors 

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