Bajaj Finance shares surged 6.5% to Rs 7387.70 today, driven by a bullish report from a foreign brokerage.
The brokerage reiterated its "Buy" rating on the stock with a price target of Rs 8,150.The brokerage cited expectations of stable loan growth and a positive outlook for net interest margins (NIMs), projecting a 3-5 basis point (bps) improvement. However, the report emphasized that updates on the company's ongoing management transition will be crucial in assessing its long-term prospects.
Bajaj Finance is engaged in lending and allied activities. It focuses on consumer lending, small and medium-sized enterprises (SME) lending, commercial lending, rural lending, fixed deposits and value-added services.
Bajaj Finance's consolidated net profit jumped 13.03% to Rs 4,013.74 crore on 27.72% rise in total income to Rs 17,095.41 crore in Q2 FY25 over Q2 FY24.
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