Bajaj Finance to strengthen position in consumer finance mkt with Bajaj Pay

Bajaj Pay, the new product, is expected to be rolled out in the current quarter and is targeted at its existing customers

When Bajaj Finance announced its foray into the payments business along with its December quarter results a few weeks ago, the business development took centre-stage over quarterly results. Stock market analysts were quick to call it the start of a new growth phase for the lender.

Emkay Global Financial noted that the company has begun a transformation process, while analysts at JM Financial said the strong digital footprint with a marketplace approach will help capitalise parent company Bajaj Finserv’s group synergies. Those at Bernstein surprised the Street the most, upgrading its rating on Bajaj Finance to “outperform”, adding the “fintech”