Hdfc Securities Sees Healthy Growth For India's Bajaj Finance Over Medium: term

Bajaj Finance

10/07/2025 10:17

** Bajaj Finance BJFN.NS gains ~1% to 949 rupees

** HDFC Securities sees non-banking lender's AUM CAGR of 24% between FY25 and FY29, aided by strong customer acquisition and expanding product suite

** Raises PT to 985 rupees from 951 rupees; retains "buy"

** Says FY25 profitability impacted by higher credit costs; believes co poised to continue delivering strong growth and profitability outcomes

** Expects delinquencies to gradually improve by Q2 FY26 on the back of tightening of credit filters

** Stock rated "buy" on avg; median PT is 978.50 rupees, per data compiled by LSEG

** BJFN gains 39% YTD

 (Reporting by Nishit Navin in Bengaluru)

 ((nishit.navin@thomsonreuters.com))