Bajaj Finance stock weighs Q2 growth against capital raise

Bajaj Finance stock was trading at INR 964.75 on the NSE at 2:00 p.m. IST on October 7, 2026, up 0.17 percent from the previous close. The lender's September-quarter business update showed AUM growth of 26.5 percent year over year to INR 584,750 crore, keeping expansion and capital needs at the center of the investor debate.

Q2 growth sets the tone

According to NDTV Profit on October 5, 2026, the customer franchise reached 128.85 million, up 16.5 percent year over year, while new loans booked rose 11 percent to 13.45 million. The figures cover the quarter ended September 30, 2026, and were provisional operating metrics rather than final quarterly earnings.

The comparison with the previous quarter adds nuance: Bajaj Finance booked 13.45 million new loans in Q2 FY27, compared with 16.13 million in Q1 FY27, while AUM increased by INR 37,800 crore during the September quarter. The lower loan count reflects the timing of the festive season in the year-ago comparison, according to the same CNBC TV18 report.

Capital raise meets analyst support

Bajaj Finance has proposed INR 11,700 crore through a qualified institutional placement and INR 5,800 crore through preferential warrants to Bajaj Finserv. The proposed INR 17,500 crore raise is intended to support growth, but dilution and the deployment of fresh capital will shape the next valuation discussion.

CNBC TV18 reported on October 5, 2026, that JPMorgan retained its Overweight rating and raised its target from INR 1,295 to INR 1,310. Jefferies maintained a Buy rating with an INR 1,280 target, while the report said the capital raise could lift book value per share by 8 percent and leave earnings per share broadly flat.

Bajaj Finance will review unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026, at its board meeting on October 19, 2026, according to NDTV Profit. Those figures will test whether rapid AUM growth is translating into profit without weakening returns through the proposed equity issuance.

Stock remains below yearly high

Bajaj Finance stock was trading at INR 964.75 on the NSE on October 7, 2026, with a 52-week range of INR 787.90 to INR 1,176.40 and volume of 9,477,860 shares. Its market capitalization stood at INR 6.0 trillion, placing the lender among the largest constituents of the Nifty 50.

Upcoming dates for Bajaj Finance stock

• October 19, 2026: Board meeting to approve September-quarter and half-year results