Bajaj Finance, a leading non-banking financial company (NBFC) in India, witnessed a significant drop in its share price today (Friday, April 26th, 2024). The stock fell by 7.73%, closing at ₹6,730.80 compared to its opening price of ₹7,000. This decline comes amidst concerns regarding the company's future profit growth.

Why Bajaj finance share falling today?

The primary reason behind the slump seems to be Bajaj Finance's recent forecast for its assets under management (AUM). The company predicted a growth of 26% to 28% in the current fiscal year (FY25) which began on April 1st, 2024. This is a significant drop compared to the 34% growth achieved in the previous year (FY24).

Furthermore, while Bajaj Finance reported a 21% rise in profit for the fourth quarter of FY24, the company expressed "cautious optimism" about profit growth in FY25, suggesting it might be concentrated towards the latter half of the year. This lack of strong growth momentum seems to have spooked investors, leading to the sell-off.

Impact on Bajaj Finserv

The negative sentiment surrounding Bajaj Finance also impacted its parent company, Bajaj Finserv. Shares of Bajaj Finserv fell by around 4%, highlighting the interconnectedness within the Bajaj Group.

• Bajaj Finance 52-week high: Bajaj finance 52 week high is ₹8192.00 and 52 week low is ₹6013.30
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• Bajaj Finance 1 share price: As of today's closing, Bajaj Finance share price is ₹6,730.80
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