This was a day after Bajaj Finserv presented a five-year long-range strategy at its investor day for group companies.
Analysts lauded BFL's 2023-24 through 2028-29 (FY29) growth plan, where it aims to become the lowest-cost financial service provider to a 200-million customer franchise by FY29 and use artificial intelligence (AI) across businesses and functions.
In the near term, however, they cautioned that the stock's upside may be limited until the non-banking finance company (NBFC) successfully navigates asset quality challenges and improves the proportion of secured loans in its loan mix.
"While the valuations are attractive at 3.7 times price-to-book value and 20 times price-to-earnings based on 2025-26 (FY26) earnings, we do not anticipate any significant upside catalysts until the asset quality challenges in its business-to-consumer loan book and imbalance in the proportion of secured loans in its loan mix persist. We maintain 'neutral' with a target price of ₹7,500," said Motilal Oswal Financial Services analysts.
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