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Shares of Bajaj Finance, a Bajaj Group company, surged Monday. Bajaj Finance shares are up nearly 5% to hit Rs 6021.60 on Monday. Bajaj Finance’s record-breaking quarterly earnings and the company’s Long Range Strategy (LRS) fueled this equity rally. Experts believe Bajaj Finance’s long-term strategy will drive the company’s growth through differentiated digital and offline products.
Quarterly profit of Rs 2973 crore
Bajaj Finance has posted a profit of Rs 2973 crore in the December quarter of the current financial year. The company’s consolidated profit has increased by 40% annually. Earnings for the December 2022 quarter are the highest quarterly earnings ever. In the October-December 2022 quarter of the current fiscal year, total revenues of Bajaj Finance increased by 26.3 percent to Rs.10,784.30 crore. In the third quarter of the current fiscal year, the company’s net interest income increased by 24% to Rs 7,435 crore.
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The shares are up 217% in less than 3 years
Bajaj Finance shares are up nearly 217% in less than 3 years. Shares of non-bank financial company Bajaj Finance stood at Rs 1,895.95 on the BSE as of May 22, 2020. The company’s shares closed in BSE on 30 Jan 2023 at Rs 6021.60. The 52-week high in Bajaj Finance shares is 7777 rupees. At the same time, the 52-week low in the company’s shares stands at Rs 5235.60. The market capitalization of Bajaj Finance is Rs 3,64,566.17 crore.
Also Read: This share fell 77% to Rs 24 as the price hit a new 52-week low
Disclaimer: The information provided here relates to stock performance only and does not constitute investment advice. Investing in the stock market involves risk and you should consult your adviser before investing.