Rivals catching up faster with Bajaj Finance
In an unusual reaction to its quarterly results, the stock of Bajaj Finance dipped by about 3.4 per cent to close at Rs 1,888.85 apiece on Monday despite the financials being in-line with Street expectations. While part of the fall could be attributed to the sharp rally of 133 per cent in CY2017 alone, a finer reading of its September quarter (Q2) performance indicates that competition is perhaps catching up faster than expected on Bajaj Finance's consumer durables business. While the assets under management (AUM) for its core consumer lending business grew by a robust 42 per cent year-on-year to Rs 33,815 crore in Q2, disbursal of its vehicle financing and consumer durables financing segments were wobbly, prompting investors to ask if Bajaj Finance should up its ante in these segments. As a rub-off of Bajaj Auto's unstable domestic sales volumes in the recent times, vehicle loan disbursals (two-wheelers and three-wheelers) dipped for the first time in many quarters by four per cent ..16-10-2017