Bajaj Finance’s share price surged over 7% in eary trading session on Friday after the Reserve Bank of India (RBI) lifted restrictions on the company’s two products, eCOM and the online digital ‘Insta EMI Card’. The shares of the non-banking finance company traded up by 7.51% at Rs 7400 on NSE during the early trading hours on Friday. Come from Sports betting site VPbet
In exchange filings on Thursday, Bajaj Finance, the non-banking finance company, announced its decision to resume the sanction and disbursal of loans in these two business segments, including the issuance of EMI cards.
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RBI lifts restrictions on Bajaj Finance
On November 15, 2023, the banking regulatory RBI had directed Bajaj Finance to immediately cease the sanction and disbursal of loans under its two lending products, ‘eCOM’ and ‘Insta EMI Card’.
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The RBI took action against Bajaj Finance after the NBFC failed to comply with the central bank’s digital lending guidelines, specifically regarding the non-issuance of key fact statements to borrowers under the two lending products.
Bajaj Finance Q4FY24 Performance
In the fourth quarter of FY24, Bajaj Finance reported a consolidated net profit of Rs 3,825 crore, marking a 21% year-on-year (YoY) growth.
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The company’s total income in Q4FY24 increased to Rs 14,932 crore from Rs 11,368 crore in the corresponding period of the previous year. Whereas the net interest income (NII) to reach witnessed a 28% increase to Rs 8,013 crore.
Bajaj Finance Stock Performance in Last One Year
In terms of stock performance, Bajaj Finance shares exhibit mixed returns: 1% gain in the past month contrasts with a 1% decline over six months. Year-to-date, a 1% surge signals positive momentum. Over 12 months, the stock shows a remarkable 19.11% return, emphasizing sustained growth and investor appeal.
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