Nomura has maintained its ‘Buy’ rating on Bajaj Finserv Ltd., setting a target price of ₹2,000, following the exit of Allianz from the joint venture. The brokerage believes that this acquisition will allow Bajaj Finserv to fully control its insurance business, leading to improved decision-making, stronger branding, and the ability to explore new growth areas such as pensions, NRI markets, and potential acquisitions.
Bajaj Finserv has confirmed that the acquisition will be self-funded using the strong balance sheet of the Bajaj Group, without any external borrowings. This strategic move is expected to unlock long-term value for shareholders as the company consolidates its position in the insurance and financial services sector.
About Bajaj Finserv:
Bajaj Finserv is one of India’s leading financial services companies, with operations spanning insurance, asset management, wealth management, and lending. Through its subsidiaries Bajaj Finance and Bajaj Allianz, the company is a market leader in consumer lending and general/life insurance.
