Bajaj Finance Soars to Record High; Brokerages Remain Optimistic
Shares of Bajaj Finance surged to a record high on March 21 after Rajeev Jain, the managing director of Bajaj Finance, was appointed as the board member of Bajaj Finserv.
Bajaj Finance Soars to Record High; Brokerages Remain Optimistic

Shares of Bajaj Finance surged to a record high on March 21 after Rajeev Jain, the managing director of Bajaj Finance, was appointed as the board member of Bajaj Finserv.
As of 9:40 am, Bajaj Finance shares were trading at ₹8,939.5 apiece, up 3%, after clocking a lifetime high of ₹9,089.00 apiece.
In his new role, Jain would be responsible for overseeing Bajaj Finance for a significant part of his time, while also supervising newer initiatives of the group.
Bajaj Finserv holds about 54% stake in Bajaj Finance.
Brokerages have increased the target price on the NBFC. CLSA issued a target price of ₹11,000 per share, indicating an upside of 27% from the previous closing price.
BofA Securities set a target price of ₹10,500 per share by reiterating a ‘buy’ tag. Citi and Morgan Stanley pegged their target price to ₹10,200 and ₹10,500, respectively by maintaining their optimistic ‘buy’ calls.
In a note, Citi wrote, “Leadership continuity and strategic clarity lends unwavering credence to seamless execution and mitigates concerns around management transition risk.” Morgan Stanley stated that Rajeev Jain’s presence at Bajaj Finance should improve investor confidence and sentiment.