Economy
Bajaj Finance board approves ₹17,500 crore capital raise; Jefferies sets ₹1,280 target
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THE BRIEF
1
Jefferies India named Bajaj Finance a top stock pick with a 35% upside target of ₹1,280 despite a negative year-to-date return and recent price correction.
2
The Bajaj Finance board approved a ₹17,500 crore capital raise, comprising an ₹11,700 crore QIP and ₹5,800 crore in preferential warrants to Bajaj Finserv.
3
Key valuation risks highlighted by Jefferies include potential growth slowdowns, higher net interest margin compression, and asset quality deterioration.