Is there any other reason for the stock of Bajaj Finance crashing apart from the Corona crisis?


Is there any other reason for the stock of Bajaj Finance crashing apart from the Corona crisis?

People who think Bajaj finance has fallen a lot, just see this chart


Bajaj finance was a Rs 5 stock in 2008. Since then it had reached almost 5000. That's 1000x, I heard people laughing at SBI giving Bajaj finance example saying Bajaj finance is a bigger company than SBI(although they were correct from a stock market valuation perspective but they ignored the bubble which was building up).
Bajaj finance is a personal finance company; it depends on retail spend to generate revenue and profits. In the last decade when income of Indian people started going up, their capacity to take personal loan also went up. Bajaj finance got all benefits as their loan disbursement were growing multi fold, there was less NPAs as in the last decade there was hardly any job losses.
Cut to 2020; because of COVID-19 pandemic India is in a lockdown. There is negligible trade, people are staring at job losses. All this means that Bajaj finance NPAs will surge, less people will take personal loan. Profitability becomes a question!
Will not be surprised if Bajaj finance trades in tripple digits in a few months. Also don't try to catch a falling knife you never know how big is the fall.

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