JPMorgan raised its target for Bajaj Finance stock to INR 1,310

Published on 10/08/2026 at 11:54 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

New loans reached 13.45 million in Q2 FY27, up 11.00 percent year on year. For Bajaj Finance stock this means INR 5.8475 trillion in AUM.

Bajaj Finance, INE296A01024, Illustration mit AI erstellt.

Bajaj Finance (INE296A01024) reported INR 5.8475 trillion in assets under management for the quarter ended September 30, 2026, up 26.50 percent from INR 4.62261 trillion a year earlier. According to CNBC TV18 on October 5, 2026, JPMorgan raised its target from INR 1,295 to INR 1,310 while retaining an overweight rating.

AUM growth reaches INR 5.8475 trillion

The September-quarter update put AUM growth at 26.50 percent year on year and 6.90 percent quarter on quarter, according to The Financial Express. The company added INR 378.00 billion to AUM during the July to September quarter, giving the balance sheet a larger base for future lending.

Customer franchise reached 128.85 million, compared with 110.64 million in the year-ago quarter. Deposits stood at INR 697.50 billion on September 30, 2026, adding a retail funding source alongside other liabilities.

Loan volumes grow at a slower pace

Bajaj Finance booked 13.45 million new loans in Q2 FY27, up 11.00 percent from 12.17 million in Q2 FY26, as ScanX reported on October 3, 2026. The company cautioned that the year-on-year loan comparison was affected by an earlier festival season in the prior-year period.

The contrast between 26.50 percent AUM growth and 11.00 percent new-loan growth matters because a larger portfolio can reflect loan seasoning and ticket-size changes, not only origination volume. The operating update also said the figures were provisional and subject to statutory auditor review.

JPMorgan raises target to INR 1,310

JPMorgan retained its overweight rating and lifted the Bajaj Finance target to INR 1,310 from INR 1,295 on October 5, 2026, according to CNBC TV18. The same report said Jefferies maintained a buy rating with an INR 1,280 target, while 28 of 39 covered analysts carried buy ratings.

The counterweight is capital intensity. Bajaj Finance has proposed an INR 117.00 billion qualified institutional placement and INR 58.00 billion of promoter warrants, a combined INR 175.00 billion raise described in the October 1, 2026 business coverage by ScanX. More capital can support AUM expansion, but dilution and funding costs remain relevant to returns.

NSE quote remains below yearly high

Bajaj Finance was last at INR 955.65 on the NSE on October 8, 2026 at 3:15 p.m. IST. Its 52-week range was INR 787.90 to INR 1,176.40, and market capitalization was INR 5.9 trillion as of October 8, 2026.