On Thursday, in the trading session, the share prices of Bajaj Finance have soared the new heights. The share price of Bajaj Finance closed at Rs 6086.4, up to Rs 412 or 7.3%.
Bajaj Finance is at Rs 3.67 lakh crore now. BofA Security is confident in this giant NBFC and also expects the future growth prospects of the company.
For an investor call, BofA Securities hosted Rajeev Jain, MD of Bajaj Finance. The majority of questions asked by the investor were focused on Bajaj Finance’s ‘Business Transformation project, which is expected to go live by October 2021.
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This project would help Bajaj Finance to achieve two objectives, these are:
1.) It would help in capturing of large wallet share of 26.9 mn cross-sell customers. 33% of the application ecosystem is based on improving servicing.
2.) It would target customers with high approval rates.
Bajaj Finance has repeated that the financial impact due to the pandemic was milder during the second wave of Coronavirus. During May 2021, due to the localized lockdowns, the business volumes of Bajaj Finance declined to 40-60% of planned levels, but after witnessing such pick up in early June 2021 it is expected that the volumes could reach 75-80%, with full normalization till July 2021.
Bajaj Finance is a part of Bajaj Group and was incorporated in 1987. BAF offers consumer lending, Small to Medium Enterprise (SME) lending, commercial lending, rural lending and mortgage landings.