Bajaj Finance shares rise nearly 4% on July 31 as brokerages lift target prices after Q1 beat
AI Market Summary
Bajaj Finance's strong Q1 print (27% YoY profit growth), improving asset quality (GNPA 0.96%), and lower-than-guided credit costs drove broker target upgrades and a ~4% stock jump, signalling resilience in Indian consumer finance. While one major broker still flags valuation risk, the net takeaway supports sentiment toward risk assets in India. Broader cross-asset impact appears limited.
Impact level
● Low
Affected assets
NCCOGOLD2USD/USDT-1.72%
AI Insight · NCCOGOLD2USD/USDTAI Insight
● Neutral
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Bajaj Finance posted a strong FY2024 first-quarter performance, with asset quality improving as gross NPA fell to 0.96% and credit costs came in at 1.54%, below the full-year guidance band. Return on assets stood at 4.7%, helping drive a 27% year-on-year profit increase. Several brokerages raised their target prices and earnings forecasts, and the stock rose 4%.
