Bajaj Finance shares hit a second straight record high, up 2.57% to Rs 1177.60; CLSA raises target to Rs 1,300
AI Market Summary
Bajaj Finance extended gains to a second record close, with momentum indicators showing an overbought setup (RSI ~74) as the stock trades above key moving averages. Brokerages (CLSA, HSBC) reiterated positive ratings and lifted price targets, citing earnings upside driven by stronger net interest income, improved pre-provision profitability, and lower-than-expected credit costs alongside better asset quality. The news supports risk appetite in Indian financials, though near-term positioning looks stretched.
Impact level
● Low
Affected assets
NCCOGOLD2USD/USDT-0.34%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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Bajaj Finance shares notched a second consecutive record, rising 2.57% to Rs 1177.60, taking their monthly gain to 14% and the three-month rise to 25.38%. CLSA reiterated an Outperform rating and lifted its target price to Rs 1,300, implying upside of more than 23% from the previous close. The brokerage said quarterly profit after tax beat its estimate by about 6%, helped by stronger net interest income, higher preprovision operating profit and lower-than-expected credit costs.
