Bajaj Finance Ltd Share Price – NSE  /  BSE

Finance, Mid Cap

The key benchmark indices traded with minor lossses in early trade. The Nifty traded below the 24,500 level. Consumer durables, media and oil & gas shares advanced while auto, pharma and banking shares declined.

At 09:30 IST, the barometer index, the S&P BSE Sensex, was down 55.31 points or 0.07% to 80,373.73. The Nifty 50 index shed 24.80 points or 0.16% to 24,439.30.

The broader market outperformed the headline indices. The S&P BSE Mid-Cap index rose 0.48% and the S&P BSE Small-Cap index added 1.39%.

The market breadth was strong. On the BSE, 1,977 shares rose and 678 shares fell. A total of 107 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,975.31 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,418.82 crore in the Indian equity market on 23 July 2024, provisional data showed.

Stocks in Spotlight:

Bajaj Finance declined 1.93%. The company reported 13.82% increase in consolidated net profit to Rs 3,911.98 crore on a 24% jump in total income to Rs 10,418 crore in Q1 FY25 as compared with Q1 FY24.

Hindustan Unilever fell 2.45%. The company reported 2.67% rise in standalone net profit to Rs 2,538 crore in Q1 FY25 as compared to Rs 2,472 crore recorded in Q1 FY24. Revenue from operations was at Rs 15,166 crore in Q1 FY25, up 1.57% from Rs 14,931 crore reported in the same period a year ago.

Torrent Pharmaceuticals declined 3.57%. The company’s consolidated revenue jumped 10.3% to Rs 2,859 crore in Q1 FY25 as compared with Rs 2,591 crore in Q1 FY24. Net profit increased 20.9% YoY to Rs 457 crore in Q1 FY25.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was up 1.75% to 7.092 as compared with previous close 6.970.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.7000, compared with its close of 83.6950 during the previous trading session.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.03% to 104.48.

The United States 10-year bond yield fell 0.42% to 4.243.

In the commodities market, Brent crude for September 2024 settlement added 39 cents or 0.48% to $81.40 a barrel.

Global Markets:

Asian shares traded mixed on Wednesday after major US technology companies, including Tesla and Alphabet, released underwhelming earnings reports.

Adding to the negative sentiment, Japanese manufacturing activity unexpectedly contracted in July, according to the au Jibun Bank flash manufacturing PMI. This data, coupled with ongoing frustration over the Bank of Japan's low-interest-rate policy, is putting pressure on the central bank to address inflation concerns.

In the US, stocks closed slightly lower on Tuesday as investors digested mixed corporate earnings reports and kept a close watch on the evolving presidential election. The broad-based S&P 500 declined 0.16%, while the tech-rich Nasdaq Composite Index dipped 0.06%. The Dow Jones Industrial Average declined 0.14%

The Federal Reserve's preferred inflation gauge, the PCE data, and US GDP data are both expected to be released later this week, potentially impacting interest rate expectations.

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Securities in F&O ban: Gujarat National fertilisers & Chemicals (GNFC), India Cements, Sail.

Upcoming results:Larsen and Turbo, Axis Bank, Aditya Birla Sun Life AMC, Bajaj Finserv, Bajaj Holdings, Bikaji Foods, CMS Info System, Craftsman Automation, DCB Bank, Federal Bank, Go Fashion, HFCL, Indian Energy Exchange, IGL, Jindal Steel and Power, JK Paper, KPIT Tech, Karnataka Bank, Mahindra Lifespace Developers, MAS Financial Services, Oracle Financial Services, Petronet, PG ELectroplast, Hitachi Energy, Ramkrishna Forgings, SBI Life Insurance, Sona BLW Precision Forging amd Syngene International.

Bajaj Finance reported 13.82% increase in consolidated net profit to Rs 3,911.98 crore on a 24% jump in total income to Rs 10,418 crore in Q1 FY25 as compared with Q1 FY24.

Hindustan Unilever reported 2.67% rise in standalone net profit to Rs 2,538 crore in Q1 FY25 as compared to Rs 2,472 crore recorded in Q1 FY24. Revenue from operations was at Rs 15,166 crore in Q1 FY25, up 1.57% from Rs 14,931 crore reported in the same period a year ago.

Torrent Pharmaceuticals' consolidated revenue jumped 10.3% to Rs 2,859 crore in Q1 FY25 as compared with Rs 2,591 crore in Q1 FY24. Net profit increased 20.9% YoY to Rs 457 crore in Q1 FY25.

Schaeffler India’s consolidated revenue stood at Rs 2,107 crore, up 15.2% as compared with Rs 1,829 crore in corresponding quarter last year. Net profit increased 3.4% YoY to Rs 245 crore.

Thyrocare Technologies’ consolidated net profit jumped 38.8% YoY to Rs 24 crore in Q1 FY25. Revenue up 16.3% to Rs 157 crore in Q1 FY25 as compared with Rs 135 crore in Q1 FY24.

ICICI Securities’ consolidated net profit jumped 94.5% to Rs 527 crore in Q1 FY25 as compared with Rs 271 crore in Q1 FY24.Total income stood at Rs 1,644 crore, up 76% YoY.

Shilpa Medicare’s unit manufacturing facility in Karnataka received GMP certification from COPERIS-Mexico. The inspection was conducted from 6 November to 10 November 2024.

Bajel Projects received an order worth Rs 568 crore from Power Grid Corporation for a period of 23 months. The project includes a transmission system for the evacuation of power in Rajasthan.

Spicejet will raise upto Rs 3,000 crore via right issue at Rs 818 per share.

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Net profit of Bajaj Finance rose 13.82% to Rs 3911.98 crore in the quarter ended June 2024 as against Rs 3436.89 crore during the previous quarter ended June 2023. Sales rose 28.33% to Rs 15748.98 crore in the quarter ended June 2024 as against Rs 12271.98 crore during the previous quarter ended June 2023.

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The consolidated results of Bajaj Finance include the results of its wholly owned subsidiaries, Bajaj Housing Finance (BHFL), Bajaj Financial Securities (BFinsec) and its associate company, Snapwork Technologies.

The growth in consolidated profit was due to one time reversal of deferred tax liability of Rs 73 crore in Q1 FY24.

Operating expenses rose 21.61% to Rs 3,471 crore in the third quarter as compared with Rs 2,854 crore posted in the corresponding quarter last year.

Net interest income jumped 24.54% to Rs 8,365 crore for Q1 FY25 from Rs 6,717 crore in Q1 FY24. Operating expenses to net interest income for Q1 FY25 was 33.3% as against 34% in Q1 FY24.

Loan losses and provisions during the quarter amounted to Rs 1,685 crore (up 69.34% YoY).

Profit before tax in Q1 FY25 stood at Rs 5,265.35 crore, up 15.69% from Rs 4,551.21 crore posted in Q1 FY24.

Number of new loans booked during the quarter grew by 10% to 10.97 million as against 9.94 million in Q1 FY24. The company resumed sanction and disbursal of loans under 'eCOM' and 'lnsta EMI Card' and issuance of EMI cards after the RBI removed the restrictions on these businesses on 2 May 2024.

Customer franchise stood at 88.11 million as of 30 June 2024 as compared to 72.98 million as of 30 June 2023, a growth of 21%. The company's customer franchise grew by 4.47 million in Q1 FY25.

The NBFC’s consolidated deposits book jumped 26% YoY and stood at Rs 62,774 crore as of 30 June 2024.

Assets under management (AUM) grew by 31% Rs 354, 192 crore as of 30 June 2024 from Rs 270,097 crore as of 30 June 2023. AUM grew by 23,577 crore in Q1 FY25.

On the asset quality front, gross NPA and net NPA as of 30 June 2024 stood at 0.86% and 0.38% respectively, as against 0.87% and 0.31% as of 30 June 2023. The Company has provisioning coverage ratio of 56% on stage 3 assets as of 30 June 2024.

Capital adequacy ratio (including Tier-II capital) as of 30 June 2024 was 21.65%. The Tier-I capital was 20.73%.

The NBFC's annualized return on average assets (ROA) stood at 4.6% in Q1 FY25 as compared with 5.4% reported in Q1 FY24. Return on average equity (ROE) stood at 19.9% in the first quarter of FY25 as compared with 24.5% posted in in the first of FY24.

Bajaj Finance is engaged in lending and allied activities. It focuses on consumer lending, small and medium-sized enterprises (SME) lending, commercial lending, rural lending, fixed deposits and value-added services.

The scrip slipped 2.18% to end at Rs 6,732.20 on the BSE.

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