Bajaj Finance, Bajaj Finserv hit over 2-year lows, recover later

Thus far in CY 2020, Bajaj Finance and Bajaj Finserv have dipped 58 per cent, as compared to 26 per cent decline in the S&P BSE Sensex

Shares of Bajaj twins – Bajaj Finance  and Bajaj Finserv - declined on Wednesday and hit an over two-year low on the BSE amid concerns that the current April-June quarter (Q1FY20) will be a wash-out quarter for Bajaj Finance.

Historically, Q1 is the largest contributor to assets under management (AUM) growth for Bajaj Finance, with roughly 40 per cent contribution to total AUM growth. Meanwhile, the Reserve Bank of India (RBI) last week extended the moratorium on term loans and interest on working capital loans by three months till August 31.

Shares of Bajaj Finance slipped 2.6 per