India's Bajaj Finance, Shriram Finance, Chola Investment gain after Jefferies lists them as top NBFC picks

Bajaj Finance

26/06/2025 10:28

** Shares of Bajaj Finance BJFN.NS and Shriram Finance SHMF.NS rise 2.3% and 3.6%, while Cholamandalam Investment CHLA.NS gain 0.8%

** BJFN and SHMF among top gainers in Nifty 50 .NSEI and financials .NIFTYFIN indexes, which are up 1% and 1.3%

** Jefferies terms the three companies its top picks in non-bank lending space

** Jefferies says good monsoon, policy initiatives by the Reserve Bank of India and government should aid credit growth for shadow banks and lift demand in the second half of fiscal 2026

** Expects asset quality trends to stabilize and improve in second half of fiscal 2026

** BJFN and CHLA up about 36% in 2025 so far, SHMF rises 17% over the same period, Nifty 50 and financials indexes gain 7.8% and 15.7%, exchange data shows

(Reporting by Bharath Rajeswaran in Bengaluru)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))