India's Bajaj Finance gains on 'encouraging' quarterly update

Bajaj Finance

04/07/2025 05:43

** Bajaj Finance BJFN.NS climbs 3% to 937.65 rupees

** Top gainer on financials index .NIFTYFIN, which is up 0.2%

** Non-bank lender reports growth in June-qtr deposits, loan book

** Citi keeps "neutral" rating with PT 983 rupees

** Notes cost of funds moderates in Q1, though offset by lower pricing in unsecured business, leading to stable NIM

** Jefferies retains "buy" rating with PT 1,044; says BJFN's quarterly update is "encouraging" as it comes at a time when sales of consumer durables, especially ACs and refrigerators, is down

** YTD, BJFN up 37% vs financials index's 1% climb

 (Reporting by Kashish Tandon in Bengaluru)

 ((Kashish.tandon@thomsonreuters.com))