Experts say comfortable capital levels, strong market position positive for both
The Supreme Court, during the hearing, indicated that it was not considering a complete waiver of interest but was only concerned that postponement of interest shouldn't accrue further interest on it.
The Sensex gained for the fourth consecutive day, rising 879 points, or 2.7%, to end at 33,303, while the Nifty rose 246 points, or 2.6%, to end at 9,826
The Bajaj group is the only one on the list of 12 conglomerates to be down - 1 per cent - since the lockdown came into effect, thanks to the hammering of stocks of non-banking financial companies.
Instead of extending the moratorium by another three months, it would have been better to allow lenders to offer a one-time restructuring only to those who need it, says Sanjiv Bajaj
The Bank Nifty declined 2.6%, with several big names posting losses in excess of 4%
All that happened in the markets today
The NBFC lost 10 productive days in Q4FY20 due to the coronavirus pandemic and the consequent lockdown. This resulted in lower acquisition of nearly 1 million loan accounts.
Reliance Industries will be in focus today as its mega rights issue opens today and closes on June 3
Profit plunges as the lender loses business worth Rs 4,500 cr in 8 days of lockdown
Nifty Bank, Nifty Private Bank and Nifty PSU Bank indices were down 5 per cent each as compared to 2.4 per cent decline in the Nifty 50 index.
Historically, the June quarter is the largest contributor to Bajaj Finance's AUM growth
In an interview with Surajeet Das Gupta, Sanjiv Bajaj, chairman and managing director of Bajaj Finserv, charts out the challenges and way forward for the economy as well as NBFCs
The Covid-19 induced slowdown, UBS believes, could have worse impact on the auto finance segment than demonetissation or global financial crisis, casting shadow on the NBFC's loan segment
Takes Rs 4,750-cr hit on assets under management
Despite the stimulus measures by the government and the Reserve Bank of India (RBI), financial sector stocks, including those of non-bank finance companies (NBFCs) have taken a hard knock
The company reported a 27 per cent AUM growth in the March 2020 quarter (Q4) compared to its 7-quarter average growth of 37 per cent
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Recently, foreign brokerage Bernstein had downgraded Bajaj Finance to 'underperform' and had cut the target price to Rs 1,740 from Rs 4,820.
At 8x FY21 estimated book, even as it is the most expensive lender, the stock remains among the preferred picks in the banking pack