Bajaj Finance share witnesses a good rally in early trade

After the non-banking finance company (NBFC) reported a positive business update for the first quarter of FY25, the share price of Bajaj Finance increased over a per cent in early trade on Thursday.

As of June 30, 2024, Bajaj Finance’s total assets under management (AUM) increased by 31% to ₹354,100 crore as compared to ₹270,097 crore in June 2023.

AUM increased by almost ₹23,500 crore in Q1 FY25, according to a regulatory filing by Bajaj Finance.

The NBFC’s new loans booked increased by 10% year on year (YoY) to 10.97 million in the quarter ended June 2024, compared to 9.94 million in the same period the previous year.

Following the RBI’s removal of restrictions on these businesses on May 2, 2024, the company resumed loan sanction and disbursal under ‘eCOM’ and ‘Insta EMI Card’, as well as the issuing of EMI cards.

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