India's Bajaj Housing gains most in three weeks after Jefferies initiation
BUZZ-India's Bajaj Housing gains most in three weeks after Jefferies initiation ** Non-deposit-taking housing finance company Bajaj Housing Finance's shares BAJO.NS rise as much as 2.13%, biggest single-session rise in three weeks, to 86.82 rupees
** Jefferies initiates coverage of BAJO at "hold" with a price target of 92 rupees, implying a 9% upside
** Terms BAJO as a quality housing finance franchise that should deliver a peer leading 23% assets under management CAGR over the financial year 2026-2029
** Says BAJO's asset quality is the best in class among peers
** However, Jefferies says the stock's premium valuations at 2.6 times its estimated March 2027 book value (BV), is likely to cap any sharp upside
** Average rating of 11 analysts tracking BAJO is "hold"; median price target is 95 rupees, according to data compiled by LSEG
** BAJO shares are down 8.3% in 2026 so far, according to exchange data
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
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