1 week Ago
Bajaj Finance shares surged 5.8% on Thursday to a high of Rs 7,272.95 on the BSE following a positive outlook report by global brokerage firm Citi, which maintained a ‘buy’ rating on the stock with a price target of Rs 8,150 per share, citing a 90-day positive catalyst watch.
The target price indicates an upside potential of 17.5% in the stock from its previous closing price. The financial services major is expected to achieve loan growth stability, with a positive net interest margin (NIM) bias of 3-5 basis points, further supporting its profitability.
Despite a marginal rise in credit costs anticipated at 2.2-2.5%, the company’s robust fundamentals remain intact, said Citi in its note.
Furthermore, Citi projects strong growth in assets under management (AUM), with a 6% quarter-on-quarter (QoQ) increase and a substantial 27% year-on-year (YoY) growth, which is attributed to contributions from mortgage financing, sales financing, and new business ventures. Citi also emphasized that the management transition update will play a critical role in shaping investor sentiment moving forward, as leadership changes are often closely scrutinized in the financial sector. Stock Trading Masterclass on Value Investing and Company Valuation View Program Stock Trading Market 104: Options Trading: Kickstart Your F&O Adventure By - Saketh R, Founder- QuickAlpha, Full Time Options Trader View Program Stock Trading Technical Analysis for Everyone - Technical Analysis Course By - Abhijit Paul, Technical Research Head, Fund Manager- ICICI Securities View Program Stock Trading Stock Markets Made Easy By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Renko Chart Patterns Made Easy By - Kaushik Akiwatkar, Derivative Trader and Investor View Program Stock Trading Market 101: An Insight into Trendlines and Momentum By - Rohit Srivastava, Founder- Indiacharts.
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With strong fundamentals and positive analyst sentiment, Bajaj Finance appears well-positioned for sustained growth, potentially offering significant returns to investors in the medium term. Over the past year, the shares of Bajaj Finance have experienced a decline of 2.16%, while showing modest gains of 1.
5% in the last 6 months. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel ).
