Jefferies has maintained its buy rating on Bajaj Finance with a target price of ₹1,100, saying that the company remains one of the few large-cap names capable of sustaining over 20% growth with high return on equity. The brokerage expects loan growth of 23–24% year-on-year in FY26, supported by strong demand across consumer, SME and commercial segments.
It said stress in the SME portfolio is manageable, with credit costs for FY26 projected at 185–195 basis points, reflecting disciplined underwriting and robust collections. Jefferies also highlighted that Rajeev Jain will remain managing director till March 2028, with his successor expected to be chosen internally, providing continuity in leadership. The brokerage believes Bajaj Finance’s growth trajectory, earnings visibility, and consistent return profile justify a positive stance on the stock.
Disclaimer: The views and recommendations made in this article are those of Jefferies. This article does not constitute investment advice. Investors should consult their financial advisors before making any investment decisions.
