Bajaj Finance is underperforming. Is Reliance’s entry weighing on the stock?

Bajaj Finance is underperforming. Is Reliance’s entry weighing on the stock?


In the past year, Bajaj Finance is down almost 6% as against Nifty’s 6% gains. The stock has gained 9% in the past month. Though the latest results are encouraging, analysts feel the AUM must grow at a higher rate to enjoy the current high valuations. However, the launch of Jio Financial Services is also a cause for concern.

Non-banking financial company, Bajaj Finance, has posted a consolidated net profit of INR3,158 crore for the quarter ended March 2023 — 30% higher compared to INR2,420 crore in the corresponding quarter of last year. The company has added 11.57 million new customers in FY23 — its highest ever — and aims to add another 11 million-12 million in the current financial year. Bajaj Finance has reported an asset under management (AUM) growth of 25% YoY

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Author: Shirley