The shares of Bajaj Finserv jumped nearly 2 percent in morning trade on July 28 after the company released its results for the first quarter of the financial year 2026. Brokerages remained bullish on the stock, with target prices implying strong upside potential.
The shares of the non-banking financial company (NBFC) were trading at Rs 2,018 apiece, as seen at 9.30 am.
Bajaj Finserv Q1 Results:
Bajaj Finserv on July 25 (Friday) had reported a net profit of Rs 2,789 crore for Q1 FY26. This marked a 30.5 percent rise from the Rs 2,138 crore net profit reported in the corresponding quarter of the previous financial year.
The company's revenue from operations stood at Rs 35,439.08 crore in the quarter under review, marking a year-on-year (YoY) jump of 12.5 percent from Rs 31,479.93 crore reported in the corresponding quarter of previous year.
On a sequential basis, the profit after tax (PAT) surged 15 percent from Rs 2,416.64 crore reported by the company in Q4 FY25. However, the revenue declined 3 percent from Rs 36,595.36 crore in the January-March quarter.
Should you buy, sell or hold?
JM Financial kept a ‘Buy’ call on the stock, but raised its target price to Rs 2,300 apiece (earlier Rs 2,250 apiece). The latest target price implies an upside potential of nearly 16 percent from the stock’s previous closing price of Rs 1,985.80 apiece.
The domestic brokerage said that it expects the company to return to steady growth by the second half of this year. It added that it appreciates the firm’s reset in product and cost structures. “At CMP, while the implied holdco discount of 17% is less than 5 year average of 21%, we prefer Bajaj Finserv over Bajaj Finance to play the Bajaj growth story,” it added.
HDFC Securities also maintained a ‘Buy’ call on the stock, with a target price of Rs 2,430 apiece. This implies an upside potential of more than 22 percent from the stock’s previous closing price. The domestic brokerage noted that the firm’s Q1 FY26 performance was strong across all operating business.
“With the NBFC business maintaining sector leadership, the improving trajectory in insurance is expected to drive an operational turnaround and a 500bps increase in SOTP contribution, supporting a re-rating,” HDFC Securities said.
Bajaj Finserv share price history:
Notably, the shares of the company had closed over 2 percent lower on July 25 after the company had released its results for the first quarter of the financial year 2026. The stock has gained nearly 14 percent in the past six months, and is up more than 27 percent in 2025 so far.
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