Bajaj Finance share price hits 52-week high after stellar Q3 results; should you buy, hold or sell?



Bajaj Finance share price touches 52-week high on Wednesday


© Provided by The Financial Express
Bajaj Finance share price touches 52-week high on Wednesday

Share price of Bajaj Finance surged over 3.5% on Wednesday after the company reported stellar Q3 results beating street estimates. The company on Tuesday reported an 85.5% rise in consolidated net profit at Rs 2,125 crore for the third quarter from Rs 1,146 crore in the year-ago period. Company’s Net Interest Income (NII) rose 40% at Rs 6,000 crore as compared to Rs 4,296 crore year-on-year (YoY). Bajaj Finance stock surged 3.6% to touch a 52-week high of Rs 8,043 per share on the BSE. The financial service major delivered an all-round healthy performance in all its key business parameters, said Motilal Oswal. The brokerage believes that its customer acquisitions and new loans booked have reached pre-covid levels and will soon breach historical highs in subsequent quarters.

Should you buy, hold or sell?

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Bajaj Finance top gainer on Nifty50, up 3% post strong biz update






© Provided by CNBCTV18


Shares of Bajaj Finance rose over three percent on Wednesday after the company posted a strong business update on Tuesday night. At 10:59 am, the stock was up 3.1 percent at Rs 7,566.45 on BSE and was the top gainer on Nifty50. The stock has been gaining for the last four days and has risen over 9 percent during the period.

Bajaj Finance’s deposit book stood at approximately Rs 30,000 crore as of December 31, 2021, as compared to Rs 23,777 crore as of December 31, 2020. Deposit book in Q3 FY22 grew by approximately Rs 1,250 crore.

The company has not witnessed any adverse impact on its NPA position due to the transition to the new method of NPA recognition, the non-bank lender added.

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The company’s customer franchise increased

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