India's Bajaj Finance hits over 4-month high after upbeat quarterly update

Bajaj Finance

03/07/2026 07:23

** Shares of non-bank lender Bajaj Finance .BJFN.NS rise as much as 2.05% to 1,039.3 rupees, their highest since Feb. 23
** BJFN says in a business update after market hours on Thursday that its assets under management (AUM) grew by 24% year-on-year in the June quarter
** The update "improves our confidence in BJFN's financial year 2027 AUM growth delivery at the higher end of its guided range," says J.P.Morgan
** Terms BJFN, its preferred pick in the Indian NBFC space, reiterates "overweight" rating
** Jefferies says strong AUM growth "reflects healthy core trends and seasonally stronger demand for consumer durable loans"
** Says BJFN remains among its top picks, retains "buy"
** Average rating of 34 analysts tracking BJFN is "buy"; median price target is 1,100 rupees - data compiled by LSEG shows
** BJFN shares up 5% YTD, outperforming Nifty 50's .NSEI 7% drop and financials' .NIFTYFIN 2.4% fall - per exchange data


 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))