Bajaj Finance shares zoom 8% to hit 52-week high. What’s cooking?

Shares of Bajaj Finance surged 8% to reach a 52-week high of Rs 7,916.70 following a positive quarterly update. The company reported a 34% increase in new loans booked during Q1 compared to the same quarter last year. Bajaj Finance also recorded the highest-ever quarterly growth in assets under management, which reached approximately Rs 270,050 crore. Its customer base also grew to 72.98 million. With the stock’s impressive performance in recent years, global brokerage firm Jefferies reiterated its buy rating and target price of Rs 8,310.