Shares of Bajaj Finance Ltd. gained the most in eight months after reporting record loan volume in fiscal 2023.
The company recorded a 29% rise in core assets under management to Rs 2,47,350 crore. The company booked its highest loan volume of 29.6 million in the financial year 2022–2023. The total deposits increased 45% annually to Rs 44,650 crore, while the consolidated net liquidity surplus stood at Rs 11,850 crore.
Shares of the company rose 3.59% to Rs 5,920 apiece as of 10:15 a.m., while the benchmark Nifty 50 gained 0.22%. The stock advanced as much as 4.06% intraday, rising the most in over eight weeks since Feb. 3, 2023.
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The total traded volume so far in the day stood at 5.5 times its 30-day average. The relative strength index was 53.9.
Out of the 33 analysts tracking the company, 24 maintain a 'buy' rating, three recommend a 'hold', and six suggest a 'sell' on the stock, according to Bloomberg data. The return potential, as calculated by the consensus of analyst estimates, stands at an upside of 18.9% over the next 12 months.
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