BoFA Securities has reiterated its bullish stance on Bajaj Finance, upgrading the stock with a ‘Buy’ rating and raising its target price to ₹10,500. The brokerage believes that the recent leadership announcements have effectively removed a key overhang, restoring investor confidence in the company’s long-term trajectory.
The board of Bajaj Finance approved the appointment of Rajeev Jain as Vice Chairman and Executive Director for a period of three years, effective April 1, 2025. Simultaneously, Anup Saha has been elevated to Managing Director, marking a well-planned and strategic leadership transition.
BoFA noted that this development offers two-fold benefits: clarity on succession and the assurance of Rajeev Jain’s continued strategic involvement. The brokerage also sees earnings momentum continuing, supported by stabilising net interest margins (NIMs) and peaking credit costs. With macroeconomic conditions and internal fundamentals aligning, BoFA expects Bajaj Finance to continue its growth trajectory, citing the stock as one of the key outperformers in the NBFC space.
