Bajaj Finance Surges with 13% Profit Increase

Bajaj Finance Ltd witnessed a nearly 5% increase in shares after announcing a 13% rise in consolidated net profit to Rs 4,014 crore for the second quarter, ending September 30, 2024. The company's market valuation increased significantly, affirming it as the biggest gainer on the Sensex and Nifty indices.

Bajaj Finance Ltd shares soared on Wednesday, climbing nearly 5% after the company revealed a 13% increase in consolidated net profit, totaling Rs 4,014 crore for Q2 ending September 30, 2024.

The stock closed at Rs 7,007.95 on BSE with a daily gain of 4.95%, peaking at Rs 7,099 during the trading session. Similarly, on the NSE, the stock rose by 4.89% to Rs 7,004.85.

This surge positioned Bajaj Finance as the top performer on both the Sensex and Nifty. The company's market cap rose by Rs 20,460.93 crore to reach Rs 4,33,789.53 crore. In the previous year, BFL recorded a net profit of Rs 3,551 crore for the same period.

(With inputs from agencies.)