Bajaj Finserv Ltd Share Price – NSE  / BSE

Finance, Mid Cap

Bajaj Finserv Ltd dropped for a fifth straight session today. The stock is quoting at Rs 1613.55, down 1.6% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.34% on the day, quoting at 23452.35. The Sensex is at 77329.05, down 0.32%.Bajaj Finserv Ltd has eased around 8.24% in last one month.Meanwhile, Nifty Financial Services index of which Bajaj Finserv Ltd is a constituent, has eased around 2.86% in last one month and is currently quoting at 23200.3, up 0.29% on the day. The volume in the stock stood at 7.22 lakh shares today, compared to the daily average of 11.8 lakh shares in last one month.

The benchmark November futures contract for the stock is quoting at Rs 1615.25, down 1.64% on the day. Bajaj Finserv Ltd jumped 1.24% in last one year as compared to a 19.08% rally in NIFTY and a 19.21% spurt in the Nifty Financial Services index.

The PE of the stock is 168.54 based on TTM earnings ending September 24.

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Net profit of Bajaj Finserv rose 8.19% to Rs 2086.97 crore in the quarter ended September 2024 as against Rs 1928.96 crore during the previous quarter ended September 2023. Sales rose 28.78% to Rs 33086.31 crore in the quarter ended September 2024 as against Rs 25692.43 crore during the previous quarter ended September 2023.

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Profit before tax in second quarter of FY25 stood at Rs 5,965.97 crore, up by 12.73% from Rs 5,292.17 crore posted in same quarter last year.

Total expenses spiked 33.82% year on year (YoY) to Rs 27,741.22 crore in the quarter ended 30 September 2024.

Bajaj Finserv is the holding company for the various financial services businesses under the Bajaj group. It participates in the financing business through its 51.34% holding in Bajaj Finance and in the protection business through its 74% holding in two unlisted subsidiaries, Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company.

Bajaj Finance (BFL) recorded 13% increase in consolidated net profit to Rs 4,000 crore in Q2 FY25 as against Rs 3,551 crore in Q2 FY24. Loan loss provisions increased to Rs 1,909 crore in the second quarter of FY25 as compared with Rs 1,077 crore posted in Q2 FY24.

Net total income for September 2024 quarter rose 24% to Rs 10,946 crore from Rs 8,847 crore posted in corresponding quarter previous quarter.

Gross NPA and Net NPA as on 30 September 2024 stood at 1.06% and 0.46% respectively as against 0.91% and 0.31% as on 30 September 2023. Provisioning coverage ratio on stage 3 assets is 57%.

Assets under Management (AUM) grew 29% to Rs 3,73,924 crore as on 30 September 2024 as against Rs 290,264 crore as on 30 September 2023.

Capital adequacy ratio (CRAR) (including Tier-II capital) as on 30 September 2024 stood at 21.69%. The Tier-I capital was at 20.90%.

Bajaj Allianz General Insurance Company's (BAGIC) gross written premium for Q2 FY25 decreased by 20% to Rs 5,871 crore from Rs 7,298 crore in Q1 FY24. Excluding tender-driven crop and government health insurance premium, BAGIC's gross written premium increased by 11% YoY to Rs 4,157 crore in Q2 FY25.

Claim ratio increased to 79.7% in Q2 FY25 as against 78% in Q2 FY24. Excluding tender driven crop and government health business and NATCAT losses, claim ratio reduced to 71.5% in Q2 FY25 as against 73.1% in Q2 FY24.

Profit after tax for Q2 FY25 stood at Rs 494 crore, up 6% as compared with Rs 468 crore in Q2 FY24.

As on 30 September 2024, solvency ratio was 312%, which is well above the minimum regulatory requirement of 150%.

Assets under Management (AUM), represented by cash and investments as on 30 September 2024 stood at Rs 31,949 crore as compared to Rs 29,511 crore as on 30 September 2023, an increase of 8%.

Bajaj Allianz Life Insurance Company's (BALIC) new business premium for Q2 FY25 stood at Rs 3,202 crore as against Rs 2,821 crore in Q2 FY24, a increased of 14%. Renewal premium for Q2 FY25 was Rs 3,342 crore, an increase of 33% on YoY basis.

Shareholders' profit after tax during Q2 FY25 declined 23.32% to Rs 148 crore from Rs 193 crore in Q1 FY24, due to new business strain, higher expense overruns and changes in product mix.

Gross written premium for Q2 FY25 increased 23% to Rs 6,544 crore from Rs 5,338 crore in Q2 FY24.

Net new business value (NBV), which is the metric used to measure profitability of life insurance businesses, up by 3.38% to Rs 245 crore in Q2 FY25.

The solvency ratio stood at a healthy 378% as on 30 September 2024 as against the minimum regulatory requirement of 150%. Assets under Management (AUM), represented by total investments increased 25% Rs 123,178 crore as on 30 September 2024.

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The key equity indices traded with substantial gains in mid-morning trade. The Nifty traded above the 24,950 mark. Bank shares rallied after declining in the past six consecutive trading sessions.

At 11:28 IST, the barometer index, the S&P BSE Sensex rose 468.63 points or 0.58% to 81,513.68. The Nifty 50 index added 165.85 points or 0.67% to 24,961.60.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 1.41% and the S&P BSE Small-Cap index gained 1.74%.

The market breadth was strong. On the BSE, 2,643 shares rose and 1,101 shares fell. A total of 124 shares were unchanged.

IPO Update :

The initial public offer (IPO) of Garuda Construction and Engineering received bids for 1,34,46,108 shares as against 1,99,04,862 shares on offer, according to stock exchange data at 11:30 IST on Tuesday (08 October 2024). The issue was subscribed 0.68 times.

The issue opened for bidding on Tuesday (08 October 2024) and it will close on Thursday (10 October 2024). The price band of the IPO is fixed between Rs 90 to Rs 95 per share. An investor can bid for a minimum of 157 equity shares and in multiples thereof.

Buzzing Index :

The Nifty Bank index gained 1.13% to 51,046.90. The index fell 7.16% in past six consecutive trading sessions.

HDFC Bank (up 1.79%), State Bank of India (up 1.51%), Bank of Baroda (up 1.43%), Axis Bank (up 1.43%) and Federal Bank (up 1.18%), IDFC First Bank (up 1.08%), Canara Bank (up 0.88%), IndusInd Bank (up 0.81%), Kotak Mahindra Bank (up 0.65%) and ICICI Bank (up 0.45%) advanced.

On the other hand, Punjab National Bank (down 0.28%) and AU Small Finance Bank (down 0.16%) edged lower.

Stocks in Spotlight :

Bajaj Finserv declined 0.26%. The company said that its subsidiary, Bajaj Allianz General Insurance Company's gross direct premium underwritten for September 2024 was at Rs 1,689.17 crore, recording a decline of 7.59% year on year (YoY).

FSN E-Commerce Ventures (Nykaa) shed 0.57%. The company stated that it has witnessed a strong performance with consolidated net revenue growth of mid-twenties in second quarter of FY25.

Rites rose 0.73%. The company said that it has received the LOA for supply and commissioning of overhauled in-service cape gauge ALCO diesel electric locomotives from Ntokoto Rail Holdings. The value of the aforementioned contract is $5.4 million, which at the prevailing exchange translates to Rs 45.33 crore.

Global Markets:

Most Asian shares tumbled on Tuesday. However, Chinese stocks surged as trading resumed after a week-long break, buoyed by recent stimulus measures from Beijing. Officials are scheduled to provide further details on these measures later today.

In contrast, other Asian indices followed Wall Street's downward trend. U.S. stocks fell sharply on Monday as investors anticipated a smaller rate cut from the Federal Reserve due to a stronger-than-expected U.S. jobs report.

The major U.S. indexes suffered significant losses on Monday. The Dow Jones Industrial Average fell 0.94%, the S&P 500 dropped 0.96%, and the NASDAQ Composite lost 1.18%.

Fears of an escalating Middle East conflict also dampened risk appetite. Meanwhile, the impending landfall of Hurricane Milton, following on the heels of Hurricane Helene, added further anxiety.

US tech stocks witnessed a sharp decline. Google's parent company, Alphabet Inc., faced pressure after being ordered to restructure its Android app store. Additionally, negative analyst comments on Amazon and Apple triggered selling in these tech giants.

The release of the minutes from the September Federal Reserve meeting, scheduled for Wednesday, will be closely monitored. These minutes will offer insights into the Fed's future rate cut strategy. Thursday's consumer price index data is another key event. Investors will be looking for signs of persistent inflation, which could influence the Fed's monetary policy decisions.

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