Shares of NBFC major Bajaj Finance lost up to 8.2% of its value on Thursday after investors dumped the stock following moderation in loan growth in the December quarter (Q3).

Bajaj Finance's quarterly business update shows some moderation in AUM (assets under management) growth to 27% year-on-year (YoY) and 6% quarter-on-quarter (QoQ) from 31%/7% in Q2. Growth in new loan booking was also slower at 5% YoY.

Global brokerage CLSA, which has maintained a sell rating on the stock, pointed out that the lender's loan growth was slow despite the festive season.

It said that despite underperformance, the stock remains "unjustifiably expensive."

The stock today hit the day's low at Rs 6032.25 and ended 7.2% down at Rs 6,099.85.

In the meantime, shares of holding company Bajaj Finserv also ended 7.2% down at Rs 6,099.85.

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