India's Bajaj Finance, L&T Finance rise after UBS upgrades on improving earnings outlook

L&T Finance

23/09/2026 06:58

** Non-bank lenders Bajaj Finance BJFN.NS and L&T Finance LTFL.NS rise as much as 3.2% and 2.6%
** BJFN leads financials .NIFTYFIN, which is up 0.6%
** UBS hikes BJFN rating to "neutral" from "sell", PT to 1,100 rupees from 910 rupees 
** LTFL upgraded to "buy" from "neutral"; PT raised to 380 rupees from 350 rupees 
** Expects cyclical earnings upgrades on yield-accretive growth and strong asset quality, while flagging demanding valuations
** Projects LTFL to post faster personal loan growth and improvement in return-on-assets to 3%
** 34 analysts rate BJFN "buy" on avg, median PT at 1,230 rupees - LSEG-compiled data
** 19 analysts rate LTFL "buy" on avg, median PT at 370 rupees - LSEG-compiled data
** YTD, BJFN up 5% vs LTFL 1.7% decline vs .NIFTYFIN's 7.4% fall

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