Shares of Bajaj Finance surged to a record high on March 21 after the company announced that its long-serving Managing Director, Rajeev Jain, has been elevated to the position of Vice Chairman. At 11:15 am, the stock was trading at Rs 8,893, up 2.46 per cent, hitting an all-time high of Rs 9,070.
Jain to oversee new initiatives across Bajaj Group
In his expanded role, Jain will continue to oversee Bajaj Finance while also supervising the group’s new ventures in healthcare and managing transitions within the insurance subsidiaries of Bajaj Finserv, the holding company with a 54 per cent stake in the lender. His leadership continuity is seen as a stabilizing factor for the company’s long-term growth.
Brokerages bullish on Bajaj Finance, target raised up to Rs 11,000
Following Jain’s appointment, major brokerages have revised their targets upward. CLSA set the highest price target at Rs 11,000 per share, implying a 27 per cent upside. BofA Securities also retained a ‘buy’ call, increasing its target price to Rs 10,500. Citi Research and Morgan Stanley followed suit, raising their targets to Rs 10,200 and Rs 10,500, respectively.
Market sentiment improves amid leadership clarity
Brokerages highlighted that the succession plan has been “well-executed,” eliminating concerns over management transition risks. Citi Research noted that leadership continuity ensures the seamless execution of Bajaj Finance’s long-term strategies. Morgan Stanley echoed similar sentiments, stating that Jain’s continued leadership reinforces investor confidence and mitigates future uncertainties.
Strategic vision and growth outlook remain strong
Bajaj Finance has been a key player in India’s non-banking financial sector, consistently delivering robust growth. The stock has gained significantly over the past year, supported by strong earnings and expansion strategies. Analysts believe Jain’s presence will help the company navigate future challenges while maintaining its leadership position in the NBFC space.
With Jain now taking on a broader role, investors expect Bajaj Finance to sustain its strong performance, making it a preferred pick among large-cap NBFCs.
