Investors lap up Bajaj Finance despite NPA warning; stock up 10% in 2 days

The management of Bajaj Finance in a mid-quarter update indicated some adverse impact of Covid-19-related fresh lockdowns on business during the April-June quarter (Q1FY22)

Shares of Bajaj Finance continued their upward movement for the second straight day on Friday, and hit a new high of Rs 6,228.60, up 2 per cent on the BSE. The stock of the non-banking finance company has rallied 10 per cent in the past two days on hopes that B2B and auto finance businesses will do much better with the reopening of the economy.

The stock of Bajaj Finance had corrected 6 per cent in the four days prior to Thursday as it slipped from its previous high of Rs 6,009 on June 4, 2021, to Rs 5,674 on June