📷 Image: Wikimedia Commons / Ministry of Finance of India
Business
Jefferies flags Bajaj Finance as top Indian pick, sees 35% upside despite YTD loss
✍️ Livemint
🗓 04 Oct 2026, 04:04 AM
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Jefferies has named Bajaj Finance its leading stock in India, projecting a 35% price gain even though the shares have fallen year‑to‑date.
Jefferies India’s research team has upgraded Bajaj Finance Ltd., placing it at the top of its stock‑pick list for the domestic market. The brokerage highlighted the company's strong asset quality, robust loan‑book growth and resilient earnings as key drivers behind the recommendation.
Despite a negative year‑to‑date performance, Jefferies analysts argue that the recent pull‑back is a market over‑reaction. Their revised target price translates into roughly a 35% upside from the current trading level, suggesting significant upside potential for investors.
The endorsement comes at a time when non‑bank financial companies are under heightened scrutiny. Market participants are likely to watch how Bajaj Finance’s share price reacts to the new rating, while the firm’s management continues to focus on expanding its digital lending platform and maintaining low credit risk.
Analysts caution that the projected upside assumes stable macro‑economic conditions and no major regulatory setbacks. Investors are advised to consider these factors alongside the brokerage’s optimistic outlook.
Despite a negative year‑to‑date performance, Jefferies analysts argue that the recent pull‑back is a market over‑reaction. Their revised target price translates into roughly a 35% upside from the current trading level, suggesting significant upside potential for investors.
The endorsement comes at a time when non‑bank financial companies are under heightened scrutiny. Market participants are likely to watch how Bajaj Finance’s share price reacts to the new rating, while the firm’s management continues to focus on expanding its digital lending platform and maintaining low credit risk.
Analysts caution that the projected upside assumes stable macro‑economic conditions and no major regulatory setbacks. Investors are advised to consider these factors alongside the brokerage’s optimistic outlook.