The company registered double-digit expansion across consolidated profit and revenue, primarily driven by strong profit growth at Bajaj Finance and its housing finance units. Jefferies lowered its target price to Rs 2,300 to reflect trimmed core profit projections and reduced valuation multiples for the insurance segments. However, the brokerage preserved its positive outlook based on an attractive entry valuation and an anticipated 23% earnings compound annual growth rate through fiscal 2029.
Key points
Jefferies maintained its buy rating while trimming the price target to Rs 2,300 due to lo…: Jefferies maintained its buy rating while trimming the price target to Rs 2,300 due to lower insurance multiples and higher holding company discounts.
The company faces ongoing drag from its healthcare division, which suffered a 33% revenue…: The company faces ongoing drag from its healthcare division, which suffered a 33% revenue decline following recent regulatory changes.
The stock trades down 16% in 2026, underperforming the benchmark Nifty 50 despite maintai…: The stock trades down 16% in 2026, underperforming the benchmark Nifty 50 despite maintaining a projected 23% compound earnings growth rate.
Sources checked by our analysis pipeline: 1
Bajaj Finserv shares had gained around 2% on Tuesday as well after the company announced the earnings, reporting a 17% YoY increase in revenue from operations to Rs 43,416 crore for the second quarter of the ongoing financial year 2027, from Rs 37,215 crore reported in the year-ago period. The shares of the company rose further to Rs 1,749 apiece on Wednesday morning.
Among its segments, Bajaj Finance’s quarterly net profit increased by 29%, while loan losses and provisions increased by 4% to Rs 2,166 crore. Its assets under management (AUM) increased by 26% YoY to stand at around Rs 5.85 lakh crore as of September 30, 2026.
Also read | Bajaj Finserv Q2 Results: Net profit jumps 23% YoY to Rs 2,758 crore
Its subsidiaries, Bajaj Housing Finance and Bajaj Financial Securities, recorded growth of 18% and 36%, respectively, in profit after tax.
Bajaj General’s assets under management (AUM), meanwhile, increased around 4% YoY to Rs 34,974 crore at the end of the quarter under review. Its net earned premium for Q2 increased by 23% YoY to Rs 2,947…
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