Bajaj Finance upbeat on growth despite uncertainties; check why JPMorgan is bullish

Shares of Bajaj Finance

Ltd. will remain in focus on Friday, June 19, after global brokerage JPMorgan reiterated its bullish stance on the non-banking finance company following a recent management interaction.

JPMorgan has maintained its 'Overweight' rating on Bajaj Finance with a price target of ₹1,080 per share, implying a potential upside of nearly 13% from Thursday's closing price of ₹958.70.

Following its meeting with the management, the brokerage highlighted three key takeaways.

First, Bajaj Finance indicated that business momentum remains robust despite concerns over elevated global crude oil prices and recent supply chain disruptions.

Second, asset quality trends continue to remain healthy across loan segments. According to the management, key indicators such as bounce rates and collection efficiency have remained stable, with no visible impact from the ongoing tensions in the Middle East.

Third, the company remains confident of meeting its FY27 guidance of a 10-12 basis point decline in net interest margins (NIMs), despite a tight liquidity environment and higher funding costs.

The management also reiterated its long-term strategy of pursuing scale while maintaining a disciplined approach to risk management.

JPMorgan said its positive view on Bajaj Finance is supported by a combination of healthy loan growth, operating cost efficiencies driven by artificial intelligence initiatives, and an expected moderation in credit costs.

The brokerage expects these factors to help the lender deliver an earnings CAGR of 26% between FY26 and FY28.

Of the 38 analysts that have coverage on Bajaj Finance, 27 of them have a 'Buy' rating, five have a 'Hold' recommendation, while six others have 'Sell' call on the stock.

Shares of Bajaj Finance ended Thursday's session marginally higher at ₹958.70. The stock is down nearly 2% so far in 2026.