Bajaj Finance slides 7% after Q2; JM Financial trims FY26 growth outlook
Bajaj Finance slides 7% after Q2; JM Financial trims FY26 growth outlook
Bajaj Finance stock falls about 7% post-Q2 as JM Financial modestly raises target but lowers FY26 growth expectations amid rising asset-quality concerns.
Shares of Bajaj Finance tumbled as much as 7.4% to Rs 1,005.05 on the BSE, slipping from the previous close of Rs 1,085.40. The decline came even after the company posted a Q2 performance that JM Financial described as inline with expectations. The brokerage’s note pointed to a cautious outlook, driven by rising stress in key segments and pressure on asset quality. GM3 assets rose 21 basis points sequentially to 1.24%, with management acknowledging MSME stress across geographies and the resulting risk controls on the mortgage book. In a mixed signal, JM Financial raised its price target on Bajaj Finance to Rs 1,140 from Rs 1,060 but downgraded its rating from Buy to Add, signaling a 13% upside from current levels.
Cover image source: Bajaj Finance Q2 results: PAT rises 23% to Rs 4,948 crore; new loans up 26% 🔗
