new Delhi: Bajaj Finance shares fell over 7 per cent on Thursday after the December quarter update and its market valuation dropped by Rs 28,681.29 crore. The stock closed 7.21 per cent down at Rs 6,099.85 on the BSE. During the day, it fell 8.23 per cent to Rs 6,032.25.
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It closed 7.22 per cent down at Rs 6,096 per share on the NSE. It was the biggest loser on both the Sensex and Nifty pack. In volume terms, over 3.16 lakh shares of the company were traded on BSE and over 51 lakh shares on NSE during the day.
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The company’s market valuation also declined by Rs 28,681.29 crore to Rs 3,69,303.67 crore on the BSE.
Siddharth Khemka, Head-Retail Research, Motilal Oswal Financial Services, said, “Bajaj Finance’s pre-quarterly business update saw profit-booking in NBFC stocks following lower-than-expected growth in AUM.” According to a regulatory filing on Wednesday, the company’s assets under management (AUM) grew by 27 per cent to about Rs 2,30,850 crore as of December 31, 2022, as against Rs 1,81,250 crore as of December 31, 2021.
“AUM grew by around Rs 12,500 crore in Q3 FY23,” the filing said. “Finances led losses in the domestic market after disappointing trading data from the NBFC major,” said Vinod Nair, Head of Research, Geojit Financial Services. In the broader market, the 30-share BSE Sensex closed at 60,353.27, down 304.18 points or 0.50 per cent.