Stories
JPMorgan Raises Bajaj Finance Target After Strong Q2 Update; Stock Surges 5%
C
CNBC TV18•05-10-2026, 11:13
JPMorgan Raises Bajaj Finance Target After Strong Q2 Update; Stock Surges 5%
- •Bajaj Finance shares jumped 5% after its September quarter business update, snapping a four-day losing streak.
- •JPMorgan raised its price target for Bajaj Finance to ’1,310, maintaining an "overweight" rating due to broad-based growth.
- •The company's customer franchise grew to 128.85 million, and new loans booked increased by 11% to 13.45 million.
- •Assets Under Management (AUM) reached ’5.84 lakh crore, with a ’37,800 crore growth in Q2.
- •Bajaj Finance plans to raise nearly ’18,000 crore through QIP and preferential warrants, with Jefferies calling it a "top pick."
Key Questions Answered
Following the September quarter business update, JPMorgan retained its overweight rating on Bajaj Finance and raised its price target to ₹1,310 from ₹1,295.
The board approved raising nearly ₹18,000 crore, which includes ₹11,700 crore through a Qualified Institutional Placement and ₹5,800 crore through preferential warrants to promoter Bajaj Finserv.
Bajaj Finance's customer franchise reached 128.85 million, showing a growth of 4.42 million compared to the June quarter. Additionally, the new loans booked during the quarter stood at 13.45 million, representing an 11% increase from the previous year.
