Bajaj Finance shares crack 8%. What's the bad news?
Shares of NBFC major Bajaj Finance NSE -1.30 % lost up to 8.2% of its value on Thursday after investors dumped the stock following moderation in loan growth in the December quarter (Q3). Read more at:
Bajaj Finance's quarterly business update shows some moderation in AUM (assets under management) growth to 27% year
on-year (YoY) and 6% quarter-on-quarter (QoQ) from 31%/7% in Q2. Growth in new loan booking was also slower at 5% YoY.
Global brokerage CLSA, which has maintained a sell rating on the stock, pointed out that the lender's loan growth was
slow despite the festive season. It said that despite underperformance, the stock remains "unjustifiably expensive."