Shares of Bajaj Finance fell nearly 3% on Wednesday as investors weighed the lender's September-quarter performance against concerns over margin pressure from rising interest rates, even as brokerages maintained positive ratings and target prices of up to Rs 1,300.
The stock fell to Rs 929.20 on the NSE during morning trade and was down 2.75% at Rs 931 as of 11:15 am.
Bajaj Finance reported a 29% year-on-year increase in net profit to Rs 6,367 crore for Q2FY27. Net interest income (NII) rose 24% year-on-year to Rs 13,335 crore from Rs 10,785 crore in the year-ago period, while assets under management (AUM) grew 26% to Rs 5.85 lakh crore. Here’s what brokerages are saying:
HSBC said Bajaj Finance's "segment-leading performance continues" and that "MSME loan growth [is] likely to revive".
The brokerage said "multiple levers [are] available to offset revenue headwinds and protect RoA/RoE in FY28-29". It added that a potential capital raise could support growth and profitability.