Bajaj Finance shares surged today after Citi brokerage firm maintained a 'Buy' rating with a target price of ₹8,150. Following this report, the shares reached ₹7,429.95, a 5.94% increase.
Stocks: Bajaj Finance shares witnessed a significant surge today after global brokerage firm Citi maintained its 'Buy' rating and set a target price of ₹8,150 for the company's stock. Following this positive report, the company's shares reached a high of ₹7,429.95 on the BSE, a 5.94% increase.
Bajaj Finance High and Low
Bajaj Finance's 52-week high was ₹7,830.00, while the low was ₹6,187.80. Currently, the company's shares are trading at ₹7,391.00, showing a positive trend over the recent period.
Citi Report: Stability in Loan Growth
Citi's analysis also indicates that the company's loan growth is likely to remain stable, and its net interest margin (NIM) may increase by 3-5 basis points, strengthening its profitability. However, a slight increase in credit cost (2.2-2.5%) is anticipated, but the company's b fundamentals will be supportive.
Strong Growth in AUM
The brokerage firm also projected a 6% quarter-on-quarter and 27% year-on-year growth in Bajaj Finance's AUM (Assets Under Management). This growth is expected to be driven by mortgage financing, sales financing, and new business areas.
Focus on Leadership Change
Citi also noted that the change in the company's leadership could impact investor sentiment, as leadership changes in the financial sector are closely scrutinized.
Bajaj Finance Shares
Bajaj Finance shares have seen a 2.16% decline over the past year, but a slight 1.5% increase over the past six months. Given the company's b fundamentals and positive analyst trends, it is expected to deliver good returns in the medium term.
(Disclaimer: The information provided in this article has been provided by investment experts and brokerage firms and does not represent Subkuz.com. Consult a certified expert before making any investment decisions.)
