HSBC has reaffirmed its ‘Buy’ rating on Bajaj Finance, raising the target price to ₹8,900, reflecting a potential upside of 14.7% from the current market price of ₹7,759.85. The brokerage highlighted Bajaj Finance’s strong Q3 FY25 performance, with broad-based AUM growth and better-than-expected asset quality driving investor confidence.
Despite minor tweaks in earnings estimates, HSBC believes Bajaj Finance deserves a valuation premium over its peers, given its consistent delivery across key parameters. The firm has increased its price-to-book value (P/BV) multiple to 5x for FY26 estimates, up from 4.6x, underscoring its confidence in the company’s growth trajectory.
With a stable outlook and robust fundamentals, Bajaj Finance remains a strong player in the NBFC space, reinforcing its leadership position in consumer lending and financial services.
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