Bajaj Finance share price posted its biggest single day gain today in 3 years after the RBI (Reserve Bank of India) lifted restrictions imposed on eCOM and online digital insta EMI card of the finance company. Bajaj Finance shares hit a day’s high of Rs 7,400. As of 09:20 AM, Bajaj Finance stock price was higher by 6.6% at Rs 7,342 on the NSE.
Global brokerage firm Jefferies, who has a Buy call on Bajaj Finance stock with a target price of Rs 9,260, said that the RBI’s decision to remove restrictions is a positive move for the company as the resolution came only within six months of imposition. The brokerage believes that this improves visibility of growth going forward and now see 24% profit CAGR over FY24-27.
