In its first quarter business update released earlier this month, Bajaj Finance’s Assets Under Managemet (AUM) grew by 23.9% from last year to ₹5.46 lakh crore, while deposits grew by nearly 15% on a year-on-year basis to ₹72,109 crore.
Bajaj Finance also saw record customer addition of 5.1 million during the quarter, taking the customer franchise reaching 124.4 million. The company’s deposit book also stood at ₹68,500 crore at the end of the June quarter.
The next major trigger for Bajaj Finance will come on July 30, when the company will be disclosing its full results for the quarter gone by. The company’s guidance for the full year could also grab the spotlight.In order to focus on its asset quality, Bajaj Finance had trimmed down its growth forecast from the historical 25% to 30% to 22% to 24% in terms of AUM growth and 15 million to 17 million in customer addition for financial year 2027.
Shares of Bajaj Finance are trading 0.3% higher on Tuesday at ₹1,067.1. The stock made an intraday high of ₹1,074.4.
The stock has gained 7% so far in July, following June’s 16% advance. This is the first instance since September-October last year that the stock is poised for successive months of positive returns.
With this upmove, Bajaj Finance’s Relative Strength Index (RSI) has also entered “overbought” territory at 71. An RSI reading above 70 means that the stock is “overbought.”
