Shares of Bajaj Finance and Bajaj Finserv surged more than 2% on January 6, with Bajaj Finance touching ₹7,599 following a robust Q3 FY25 business update from the company.
Key Highlights from Bajaj Finance’s Q3 FY25 Update:
- AUM Growth:
Assets Under Management (AUM) increased by 28% YoY, reaching ₹3.98 lakh crore, compared to ₹3.10 lakh crore in Q3 FY24. - Deposit Growth:
The deposit book expanded by 19% YoY to ₹68,800 crore, up from ₹58,008 crore in the previous year. - Loan Bookings:
Bajaj Finance recorded its highest-ever quarterly new loan bookings, reaching 12.06 million loans, a 22% increase from 9.86 million loans in Q3 FY24. - Customer Base:
The customer base grew to 97.12 million by December 2024, marking a significant YoY increase from 80.41 million, with a record 5.03 million new customers added during the quarter.
Analyst Ratings:
- Bank of America (BofA): Reiterated “Buy” with a target price of ₹8,800, citing robust loan growth and customer acquisition metrics.
- JPMorgan: Maintained “Overweight” with a target price of ₹7,300, projecting a 29% CAGR growth in AUM over the next three years.
- Citi: Continued with a “Buy” rating, setting a target price of ₹8,150, and placed the stock on a 90-day positive catalyst watch, noting proactive risk management strategies.
Market Performance:
- Bajaj Finance: Shares rose by over 2% to ₹7,570.35.
- Bajaj Finserv: Also witnessed gains, reaching ₹1,732 per share.
Bajaj Finance’s impressive performance and optimistic outlook from brokerages have positioned it as the top Nifty gainer today.
