Bajaj Finance shares jump over 5% post Q2 earnings

The stock surged 5.22% to ₹7,026.40 on the BSE.

At the NSE, it climbed 5.25% to ₹7,029.

The stock emerged as the biggest gainer among the Sensex and Nifty firms during the morning trade.

The BSE Sensex traded 231.07 points higher at 80,451.79 and the NSE Nifty quoted 41.55 points up at 24,513.65.

The non-banking finance company had posted a net profit of ₹3,551 crore in the July-September quarter a year ago.

Its total consolidated income increased to ₹17,095 crore during the quarter under review, as against ₹13,382 crore in the same period a year earlier, BFL said in a regulatory filing on Tuesday.

The Pune-headquartered company's total expenditure rose to ₹11,697 crore, compared to ₹8,624 crore in the year-ago period.

Stock price performance

Shares of Bajaj Finance rallied as much as 6.15% to hit an intraday high of ₹7088.85 apiece on the NSE. However, the stock pared some of its early gains to trade at ₹7075 apiece, up 5.94%, on the NSE at 11:07 am.

About Bajaj Finance

Bajaj Finance is mainly engaged in the business of lending. BFL has a diversified lending portfolio across retail, SME and commercial customers with a significant presence in urban and rural India. It also accepts public and corporate deposits and offers variety of financial services products to its customers.