Morgan Stanley has reiterated its ‘Overweight’ rating on Bajaj Finance (BAF) with a target price of ₹9,000, reflecting a significant upside from the current market price of ₹6,758.00. The brokerage noted that Bajaj Housing Finance Limited (BHFL), a subsidiary of Bajaj Finance, saw its AUM rise by 6% QoQ, which aligns with the consolidated AUM growth of 6% QoQ for Bajaj Finance.
In terms of profitability, Bajaj Finance’s PAT grew by 13% QoQ and 21% YoY, supported by higher non-interest income from assignments and lower credit costs compared to the previous quarter. Given these robust figures, Morgan Stanley has made minor adjustments to its Q2 FY25 PAT forecast for Bajaj Finance, further reinforcing its positive outlook on the stock.
Disclaimer: The information in this article is based on Morgan Stanley’s analysis and does not constitute investment advice. Investors should consult their financial advisors before making any decisions. The author and the publication are not responsible for any losses incurred from actions based on this article.
