Bajaj Finance Shares Tank By 7%

After reporting with highest ever consolidated net profit for March quarter, bajaj shares fell over 7 percent.

The stock tanked 7.24 per cent to end at ₹ 6,716.65 on the BSE. During the day, it plunged 7.60 per cent to ₹ 6,690.

At the NSE, it tumbled 7.24 per cent to ₹ 6,716 apiece.

The company’s market valuation declined by ₹ 31,727.37 crore to ₹ 4,06,645.63 crore on the BSE.

The stock was the biggest laggard among the Sensex and Nifty firms.

Buoyed by healthy consumer sentiments, Bajaj Finance on Tuesday reported its highest-ever consolidated net profit at ₹ 2,420 crore in the three months ended March.

“In stock specific development, Bajaj Finance was the biggest loser despite the company reporting 79.67 per cent rise in its net profit,” Mohit Nigam, Head – PMS, Hem Securities said.