Bajaj Finance: Stock hits record high, mcap breaches Rs 7 lakh crore; fresh price targets

Shares of non-banking financial company (NBFC) Bajaj Finance are facing huge buying demand with the largecap stock turning overbought on charts. The stock of the leading NBFC has a RSI of 73.9. A stock with RSI above 70 is said to have more buyers than sellers in the stock market. Bajaj Finance stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

In the current session, Bajaj Finance shares rose for the second straight day. Bajaj Finance shares rose 2.57% to a fresh high of Rs 1177.60 against the previous close of Rs 1141.70. Market cap of the firm rose to Rs 7.29 lakh crore. The NBFC stock fell to a 52 week low of Rs 788.40 on March 23. On Friday, the stock rose 6.24% to a high of Rs 1122 on July 31, 2026.

The stock has gained 14% in a month and risen 25.38% in three months.

Muthuselvaraj M, Research Analyst at Mirae Asset Sharekhan said that Bajaj Finance is displaying a strong bullish chart structure, with the stock forming a series of higher highs and higher lows on the daily timeframe. The recent breakout above its previous swing high reinforces the positive trend and suggests the potential for further upside.

Momentum indicators also remain firmly positive, supporting the prevailing bullish outlook.

From a technical perspective, Bajaj Finance has the potential to move toward the Rs 1,206–1,285 zone in the short to medium term. On the downside, Rs 1,001 is expected to serve as a strong support level.

CLSA reiterated its Outperform rating on the stock and raised its target price to Rs 1,300 per share, implying an upside of more than 23% from the previous closing price. The brokerage said Bajaj Finance once again demonstrated the resilience that has earned it an "Iron Man" reputation, delivering quarterly earnings ahead of expectations.

According to CLSA, the company's profit after tax exceeded its estimates by around 6%, driven by stronger net interest income (NII), higher pre-provision operating profit and lower-than-anticipated credit costs. The brokerage highlighted the significant improvement in asset quality as the biggest positive of the quarter and expects the company to comfortably outperform its full-year credit cost guidance of 1.45-1.60%.

CLSA also noted that the management's commentary during the post-earnings analyst interaction remained constructive, reinforcing confidence in the company's growth outlook and execution capabilities.

Meanwhile, HSBC maintained its 'Buy' recommendation on Bajaj Finance and raised its target price to Rs 1,270 per share after describing the quarterly performance as exceptionally strong across key operating parameters.

The brokerage revised its earnings estimates upward for FY27-FY29 by 1-6%, reflecting expectations of stronger assets under management (AUM) growth, improved net interest margins and lower credit costs than previously anticipated.

HSBC said the management expressed confidence in accelerating business growth without compromising profitability, while also highlighting the continued improvement in asset quality. The brokerage believes the company's disciplined underwriting, healthy loan growth and stable margins position it well to sustain earnings momentum over the medium term.