Bajaj Finance shares rally 6% today, trade as top Sensex, Nifty gainer

Bajaj Finance share: Citi has reiterated a 'Buy' rating on Bajaj Finance stock. Meanwhile, Bajaj Finserv share price today zoomed 9 per cent

Bajaj Finance share: Bajaj Finance share price today gained 5.8 per cent in the BSE. The stock hit an intraday high of Rs 7,339.9 per share and was the top Sensex gainer. Bajaj Finserv share price, meanwhile, surged 8.9 per cent to an intraday high of Rs 1,717.45 per share.

 

By comparison, the Sensex today added over 1,000 points to trade at 79,520 level at1:00 PM.

 

According to reports, global brokerage Citi has maintained a bullish view on Bajaj Finance shares and has opened a ’90-day catalyst watch’ window for the stock.

 

Citi has also, likely, reiterated a ‘Buy’ rating on Bajaj Finance stock with a target price of Rs 8,150.

 

 

"We expect only a marginal uptick in Q3 credit cost to 2.2-2.25 per cent. AUM is expected to grow 6 per cent Q-o-Q and 7 per cent Y-o-Y, aided by mortgages, sales financing, securities lending, and new businesses. We expect positive NIM bias as it may rise 3-5 bps," Citi reportedly said.

 

Bajaj Finance is one of India’s leading non-bank finance companies (NBFC), engaged in lending and acceptance of deposits. Its diversified lending portfolio is spread across retail, SMEs, and commercial customers.

 

Bajaj Finance's share price hostiry shows that over the past one month, Bajaj Finance share has gained just 4 per cent as against a 1-per cent fall in the Sensex index.

 

Bajaj Finance shares hit a 52-week high of Rs 7,830 per share on January 9, 2024. It hit an all-time high of Rs 8,190 on October 6, 2023. Bajaj Finance has a market capitalization of Rs 4.4 trillion.

 

Bajaj Finance Financials

According to analysts, Bajaj Finance is confident that earnings growth is expected to gradually converge with asset growth, led by moderation in credit costs and stability in NIMs in FY26, and amid improvement in outlook for H2FY25.

 

"Underperformance of the stock could reverse as outlook gradually improves led by receding headwinds. We are confident in strong sustainable earnings growth and longevity of the franchise," said analysts at Mirae Asset Sharehan. They retained their ‘Buy’ rating on Bajaj Finance shares after Q2 results, with a revised price target of Rs 9,500.

 

Bajaj Finance’s net profit grew 13 per cent Y-oY and 2.8 per cent Q-o-Q to Rs 4,013 crore, while AUM grew 28.8 per cent Y-o-Y and 5.6 per cent to Rs 373,924 crore.

 

Its net interest income (NII) rallied 28 per cent Y-o-Y to Rs 14,987 crore.