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Bajaj Finance Share Price NSE: New 52-Week High Signals Positive Growth

The share price of Bajaj Finance, a subsidiary of Bajaj Finserv, soared to a new 52-week high of Rs 8,043 per share on the NSE. This surpasses the previous peak of Rs 7,999.9. The stock has been on an upward trend for three consecutive sessions following the release of the company’s Q2 business update. Bajaj Finance reported a 26% increase in new loans booked during the July-September quarter, reaching 85.3 lakh compared to 67.6 lakh in the same quarter last year. In the opening deals, the shares traded at Rs 7,979, up Rs 11.4 or 0.14% on the NSE.

The company’s assets under management (AUM) also showed significant growth, reaching approximately Rs 290,200 crore as of September 30, 2023, compared to Rs 218,366 crore in the same period last year. The AUM grew by around Rs 20,100 crore in Q2 FY24.

Bajaj Finance maintains a strong liquidity position, with a net liquidity surplus of approximately Rs 11,400 crore as of September 30, 2023. The company’s deposits book stood at around Rs 54,800 crore as of September 30, 2023, marking a YoY growth of 39% compared to Rs 39,422 crore in the previous year.

Bajaj Finance Share Price Target: Analysis from Top Brokerages

Various brokerages have shared their perspectives on Bajaj Finance’s recent developments:

• Morgan Stanley: The brokerage has maintained an overweight rating and raised the target price by Rs 800 to Rs 10,300, the highest among other brokerages.
• Jefferies: It has maintained a buy stance with a target price of Rs 8,830 on Bajaj Finance, considering it one of the top picks within NBFCs.
• Citi: This brokerage has maintained a neutral stance with a target price of Rs 7,800.

The AI legalese decoder can play a vital role for stakeholders and investors in this situation. It can analyze complex legal documents, contracts, and financial statements to provide clear and simplified summaries. This tool can help investors understand Bajaj Finance’s financial performance, growth prospects, and brokerage recommendations, making it easier to make informed investment decisions. By leveraging AI technology, the legalese decoder can save time and effort, allowing users to quickly grasp important information and stay updated on the company’s stock performance.

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