Bajaj Finance shares zoom 12%, m-cap rises by Rs 13,207 cr post Q2 results

Shares of Bajaj Finance Wednesday zoomed almost 12 per cent after the company reported a 54 per cent jump in its consolidated net profit in the quarter ended September.

The stock rose sharply by 10.97 per cent to end at Rs 2,312.60 on the BSE. Intra-day, it surged 12.76 per cent to Rs 2,350.

On the NSE, shares of the company jumped 11.96 per cent to close at Rs 2,332.70.

The company's market valuation advanced by Rs 13,206.95 crore to Rs 1,33,651.95 crore on the BSE.

On the equity volume front, 6 lakh shares of the company were traded on the BSE and over one crore shares changed hands on the NSE during the day.

Non-banking financial company Bajaj Finance Tuesday reported a 54 per cent jump in its consolidated net profit at Rs 923 crore in the quarter ended September, helped by higher growth in assets under management.

The company had reported a net profit of Rs 598 crore in the year-ago period.

"We saw a strong growth in the quarter. Our asset under management (AUM) grew by 38 per cent," the company's managing director, Rajeev Jain, said.

Total income on a consolidated basis grew by 40 per cent to Rs 4,296 crore, against Rs 3,066 crore last year.