Friends i am sharing my personal experience as customer with Bajaj finance so far. Pls note i maybe wrong in my assessment.
Few years back i was amazed with seing Bajaj finance people in Croma store and went ahead to take the zero percent emi loan. I was stunned that how can a company give long term loan on zero percent and post that i started noticing their people everywhere. Process was quick and easy with hardly any paperwork. Till date I feel that was my biggest mistake. Because after paying back all amount years back, their employees keep haunting/calling multiple times a day, say lies that i requested some card etc etc. Worst experience it has been since then. The callers are thick skin and keep lying and unlike the ones from banks, they sound low class and not bothered about how customer is feeling by constant calling. I can only imagine how their recovery people would be if sales are like this. Probably that’s why this stock rose so much so far.
Also, forgot to mention, they had sent me an emi card even without asking when i had taken loan. Now all dues paid long back, i fear their stupid employees can do anything for sales and send some card again. I am planning to visit their office and give final ultimatum to the manager that I do not want to do any business with them.
This is a company for the low class, as someone rightly said, who do not have access to credit cards etc. I have decided never again to do any business with them. There will be many like me and as people grow up the pyramid, they will surely shun such companies and remember the experience.
None of my experience would cause any short or medium term change to an investment outlook but of course it gives me clear signal that for long term this is not a company for me to invest.
Pls not these are only my views
Disc: invested in Bajaj Finserv because of insurance business. plan to convert to HDFC life at an opportune moment