The share hit a new record high of £5,152.85 at the BSE and settled £5,128.05, up 4.69% from its previous close with a market cap of £3.09 trillion.
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The stock had hit a low of £1,783.10 per share on May 27 and up 190% since then. So far this year it has grown by over 21%.
Currently, Reliance Industries Ltd is the most valued company in the country with a market capitalization of £12.51 trillion, followed by TCS and HDFC Bank with a market capitalization of £10.36 trillion and £7.66 trillion.
Investors continued to buy into Bajaj Finance after business normalized after lockdown restrictions in India were eased. It sailed through headwinds and developed stronger with a leaner operating model and robust growth forecast.
In the September quarter, management noted that the company had seen a month-on-month improvement in payout traction across all product segments. With the exception of EMI / wallet loans for retail customers, which will be resumed in January-March 2021, the creation has resumed in all business areas.
While the withdrawals have been handled carefully – as the credit bureaus haven’t updated – she expects this to accelerate over the next 1 to 2 months.
The company reported an inline quarter on all fronts. However, analysts had advised caution with withdrawals, which resulted in assets under management flattening one by one. Gross distressed assets fell 37 basis points quarter over quarter to 1.03% in the September quarter, supported by higher depreciation of £470 crore and net recoveries.
“While this stance will continue into the future for certain products, we expect the payouts to improve significantly from month to month from the third quarter of fiscal 2021 with the start of the holiday season,” Motilal Oswal said in a statement to investors.