# Jefferies picks Bajaj Finance for 35% upside

> Jefferies India targets 35% share price rise for Bajaj Finance despite negative YTD return.
- Title: Jefferies picks Bajaj Finance for 35% upside · mint | Shortify
- Summary: Jefferies India targets 35% share price rise for Bajaj Finance despite negative YTD return. Jefferies India forecasts Bajaj Finance shares to rise 35% from…
- Keywords: bajaj finance, jefferies india, stock market, share price, fund raise, qip, warrants, bajaj finserv, nse, target price, money, business
- Source: mint — https://livemint.com/market/stock-market-news/bajaj-finance-shares-jefferies-indias-top-stock-pick-35-upside-seen-despite-negative-ytd-return-target-price-11791015309415.html
- Author: Asit Manohar
- Published: 2026-10-03T10:07:43+00:00
- Read time: 1 min
- Topics: bajaj finance, jefferies india, stock market, share price, fund raise, qip, warrants, bajaj finserv, nse, target price, money, business
## Jefferies India's top stock pick
Jefferies India has named Bajaj Finance shares as its top stock recommendation for 2026.

> Bajaj Finance share: Jefferies India report says the fundraising involves ₹11,700 crore through a QIP and ₹5,800 crore in warrants being assigned to Bajaj Finserv
## Fund raise details
Bajaj Finance approved a ₹17,500 crore fund raise including ₹11,700 crore QIP and ₹5,800 crore warrants to Bajaj Finserv.

> The raising involves ₹ 117bn ( ₹ 11,700 crore) in QIP and ₹ 58bn ( ₹ 5,800 crore) of warrants being assigned to Bajaj Finserv
## Current share price
Bajaj Finance shares trade at ₹947.50 on NSE with a target price of ₹1,280 for 35% upside.

> Bajaj Finance share price today is ₹ 947.50 apiece on the NSE, and Jefferies India report has predicted Bajaj Finance share price target of ₹ 1,280
## Why bullish
Jefferies cites strong loan growth, staggered monetisation of BHFL stake, and management succession as key drivers.

> strong loan growth (23%), staggered monetisation of the 87% stake in BHFL, & mgt succession in Mar-28 may have led to the raise
## Target rationale
Jefferies uses SoTP valuation to set target at 5x Sep-28E P/BV with key risks including growth slowdown.

> Our PT (Price Target) of ₹ 1,280 is based on SoTP valuation. Standalone entity is valued at 5x Sep-28E P/BV
## Shareholder approval
Bajaj Finance seeks shareholder approval for QIP and warrants through Extra Ordinary General Meeting.

> Bajaj Finance said it would seek shareholder approval for both the QIP and preferential issue through an Extra Ordinary General Meeting
## Market reaction
Bajaj Finance shares have fallen 10% in one month with negative YTD return of 2.50%.

> Bajaj Finance share price has fallen around 10% in one month. In YTD, Bajaj Finance shares have delivered a negative return, correcting around 2.50%
## Risks and opportunities
Key risks include growth slowdown and NIM compression; opportunities include stronger rural financing and cost efficiencies.

> Key risks to our valuation include a slowdown in growth, higher-than-expected NIM compression, and deterioration in asset quality. Upside risks include stronger-than-expected growth in consumer durable and rural financing business
## What next
Bajaj Finance aims to strengthen capital base with fund raise approved by board for shareholder approval.

> The move comes as the NBFC looks to strengthen its capital base, with the proposed transactions together amounting to as much as ₹ 17,500 crore
## Key takeaway

Jefferies India forecasts Bajaj Finance shares to rise 35% from current price after ₹17,500 crore fund raise.