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Jefferies names Bajaj Finance a top pick after planned capital raise
Jefferies set a price target 35% above the current market level, citing the board approved a ₹17,500 crore capital raise through a QIP and preferential warrants.
Jefferies India has named Bajaj Finance shares as its top stock pick after the lender announced plans for a ₹17,500 crore capital raise, according to LiveMint Markets. The brokerage said the fundraise involves ₹11,700 crore via a QIP and ₹5,800 crore through preferential warrants assigned to Bajaj Finserv.
LiveMint Markets also reported that Jefferies forecast a potential trend reversal for the stock, with a price target 35% above the current market price. The report is dated October 2, 2026.
The article said Bajaj Finance shares have fallen around 10% in one month and have delivered a negative return of about 2.5% year to date.
Jefferies noted leverage of 4.9x and a retained ROE of 17%, alongside strong loan growth of 23%, as part of its view, as summarized by LiveMint Markets.