Bajaj twins surge around 5 per cent on strong Q1 business update
Jul 06, 2022
Mumbai (Maharashtra) [India], July 6 : The share price of Bajaj twins - Bajaj Finance and Bajaj Finserv - soared by around 5 per cent on Wednesday after a group company announced a strong business update for the first quarter of the current financial year.
Bajaj Finance surged 4.71 per cent to close at Rs 5929 at the BSE. Bajaj Finserv soared 4.83 per cent to Rs 12075.
Bajaj twins were the top gainers among the 30 Sensex scrips.
The share price of Bajaj Finance surged after the company disclosed financial information for the quarter ended June 30, 2022.
Bajaj Finance's core assets under management (AUM) rose to Rs 2,04,000 crore as of June 30, 2022 as compared to Rs 1,56,115 crore as of June 30, 2021, posting an increase of 31 per cent.
The Company continues to remain well capitalised with capital adequacy ratio (CRAR) of approximately 26.2 per cent as of 30 June 2022. During the quarter, the Company invested Rs 2,500 crore in equity shares of Bajaj Housing Finance Ltd, a wholly-owned subsidiary.
Strong financial number of Bajaj Finance boosted buying support in other banking and financial stocks.
The company's consolidated net liquidity surplus stood at approximately Rs 11,550 crore as of June 30, 2022.
The company's deposit book stood at approximately Rs 34,100 crore as of 30 June 2022 as compared to Rs 27,972 crore as of 30 June 2021, registering a year-on-year growth of 22 per cent.
