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Motilal Oswal Report
Bajaj Finance Ltd. has released its mid-quarter update highlighting the impact of the second Covid wave on assets under management (Rs 40-50 billion, 3% of outstanding assets under management) and provisioning (Rs 11-13 billion, 0.8% additional credit cost).
A large portion of the provisioning is likely to be up-fronted in Q1.
New origination in B2B/other businesses are down to 40/60% versus planned level in May.
We have tweaked our estimate based on the revised guidance.
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