Bajaj Finance: Eight days of rally amid Q4 earnings; price targets signal record high breach?

Shares of NBFC Bajaj Finance Ltd are in a short-term uptrend amid release of the firm's Q4 earnings. The large cap stock has logged over 7% gains for eight straight sessions with prices targets signalling more upside toward Q4 earnings. Amid the current up move, the stock has approached the record high of Rs 1102.45 reached on October 23, 2025. 

Shares of Bajaj Finance, the Sensex heavyweight, have gained 22% in a year. The stock was trading a percent higher at Rs 967.80 in the current session. Market cap of Bajaj Finance rose to Rs 6.02 lakh crore. Total 1.58 lakh shares of the firm changed hands amounting to a turnover of Rs 15.37 crore. The NBFC stock has lost 1.20% in the last three months. 

Bajaj Finance share price targets 

PL Capital has a price target of Rs 1100 on the stock post Q4 earnings. 

The brokerage said the NBFC is witnessing sustained traction in new verticals (Cars, Gold, MFI) and new customer addition (15-17 million in FY27). 

The brokerage estimates an AUM growth of 23%/22% in FY27/FY28E and expects FY27 NIM to moderate as hardening of bond yields is likely to impact cost of funds. Asset quality ratios saw improvement across segments while  credit cost improved in Q4 (1.65%) supported by a healthy trend in vintage credit performance. 

Operating expenditure is likely to moderate by 30 bps in FY27 benefited from improved 
FINAI capabilities. 

"We slightly tweak our estimates to account for positive growth  outlook, lower credit cost guidance/improved opex in FY27E. Upgrade to BUY with a  multiple of 4.1x (vs. 3.9x earlier) and a TP of Rs 1,100," said PL capital. 

Axis Securities said the worst for the MSME portfolio is largely behind, and the management remains confident of  resuming double-digit growth in this segment from Q2/Q3FY27 onwards. 

At a systemic level, the firm continues to gain share, with 25 bps market share improvement for every Rs 1 trillion AUM accretion, underscoring its ability to grow nearly 2x of the industry. Axis has a by call with a price target of Rs  1160 against the earlier Rs 1150. 

Brokerage Mirae Asset Sharekhan projects a 26.2% PAT CAGR over FY26–FY28 and maintain a BUY rating with a price target of Rs  1,125 on strong profitability growth, return ratios, resilient asset quality, lower credit cost and  FINAI transformation. Stock trades at 4.3x and 3.6x of its FY27 and FY28 BV.  The brokerage assigned a price target of Rs 1125 on the NBFC stock. 

Bajaj Finance Q4 earnings 

Bajaj Finance reported a 22% rise in net profit to Rs 5,464.57 crore in the January-March quarter. Net interest income also rose 20% to Rs 11,781 crore against Rs 9,808 crore posted in the fourth quarter of 2025 fiscal. Pre-provisioning operating profit rose 21%.