Shares of Bajaj Finance fall 3% as management projects margin contraction

Bajaj Finance stock: During the recently concluded quarter, Bajaj Finance saw 29 bps year-on-year (YoY) and 11 bps quarter-on-quarter (QoQ) decline in NIM to 10.5 per cent

Investors booked profit in the shares of Bajaj Finance after the non-banking financial company’s (NBFC’s) management indicated another 25-30 basis points (bps) of net interest margin (NIM) contraction in the second half of the current financial year (H2FY24).

The shares settled as the top laggard on the benchmarks on Wednesday, falling 2.9 per cent on the National Stock Exchange (NSE). By comparison, the 50-share Nifty ended 0.7 per cent lower. The stock declined 2.72 per cent to end the day at Rs 7,871.10 on the BSE.

During the NBFC’s post Q2FY24 earnings conference call, the management of Bajaj Finance said the cost