Bajaj Finserv Shares Gain as Jefferies Initiates ‘Buy’ Call, Sees 22% Upside

Shares of Bajaj Finserv witnessed a positive momentum on August 21 after global brokerage Jefferies initiated coverage with a ‘Buy’ call. The brokerage has set a target price of Rs 2,420 per share, indicating an upside potential of nearly 22% from the current market levels.

At 10 a.m., Bajaj Finserv shares were trading 1.4% higher at Rs 1,986 apiece, extending early gains. The stock climbed as much as 1.5% in morning trade on the back of Jefferies’ optimistic outlook.

Why Jefferies is Bullish

According to Jefferies, Bajaj Finserv is set to benefit from lower interest rates, stronger earnings from its insurance arms — Bajaj Allianz Life Insurance Company (BALIC) and Bajaj Allianz General Insurance Company (BAGIC) — along with steady growth momentum in its financial services business.

The brokerage believes these factors could drive profitability and unlock long-term value for shareholders.

Also Read: Health, Life Insurance Stocks Rally as GST Waiver Proposal Gains Momentum

Market Update

The upbeat coverage comes at a time when the broader market is showing resilience. Nifty has been clocking steady gains, supported by strong buying in financial and insurance counters. Bajaj Finserv’s move today added to the positive sentiment within the sector.

Key Insights

• Jefferies target: Rs 2,420 per share, ~22% upside potential.

• Stock reaction: Up 1.4% at Rs 1,986 (10 a.m. trade).

• Growth drivers: Lower rates, BALIC & BAGIC profitability, financial services expansion.

• Investor sentiment: Strong, with insurance and NBFC stocks leading the rally.

If Jefferies’ projections hold true, Bajaj Finserv could see renewed investor confidence and a stronger position in the financial services and insurance space.

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