Bajaj Finance shares zoom 12% to Rs 2,333 , market-cap rises by Rs 13,207 cr post-Q2 results

New Delhi: Shares of Bajaj Finance on Wednesday zoomed almost 12 percent after the company reported a 54 percent jump in its consolidated net profit in the quarter ended September.

The stock rose sharply by 10.97 percent to end at Rs 2,312.60 on the BSE. Intra-day, it surged 12.76 percent to Rs 2,350.

Representational image. Reuters.

Representational image. Reuters.

On the NSE, shares of the company jumped 11.96 percent to close at Rs 2,332.70.

The company's market valuation advanced by Rs 13,206.95 crore to Rs 1,33,651.95 crore on the BSE.

On the equity volume front, 6 lakh shares of the company were traded on the BSE and over one crore shares changed hands on the NSE during the day.

Non-banking financial company Bajaj Finance on Tuesday reported a 54 percent jump in its consolidated net profit at Rs 923 crore in the quarter ended September, helped by higher growth in assets under management.

The company had reported a net profit of Rs 598 crore in the year-ago period.

"We saw a strong growth in the quarter. Our asset under management (AUM) grew by 38 percent," the company's managing director, Rajeev Jain, said.

Total income on a consolidated basis grew by 40 percent to Rs 4,296 crore, against Rs 3,066 crore last year.


Updated Date: Oct 24, 2018 17:06 PM