Bajaj Finance Share Price : In today’s trading, there is a strong rise in the shares of Bajaj Twins i.e. Bajaj Finance and Bajaj Finserv. Both the shares remain top gainers of Sensex 30. Actually, there is relief news for Bajaj Finance. Banking regulator Reserve Bank of India has decided to immediately withdraw the ban on Bajaj Finance’s eCOM and online digital Insta EMI cards.
Brokerages and experts believe that lifting the ban will lead to improvement in the company’s fee income as well as more customer acquisition. He says that this development is a positive factor with the company in the beginning of financial year 2025 and in this process the confidence of investors will increase.
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How was the stock today?
Today the share of Bajaj Finance became stronger by about 8 percent and reached the price of Rs 7400, whereas on Thursday it had closed at the level of Rs 6883. At the same time, the share of Bajaj Finserv became stronger by 5 percent and reached Rs 1725, which had closed at Rs 1615 on Thursday.
Brokerage House Rating and Target
MK Global
Rating: Buy
Target price: Rs 9000
Citi
Rating: Buy
Target price: Rs 8675
Jefferies
Rating: Buy
Target price: Rs 9260
Trent: This share of Tata Group gave 1100% return in 5 years, brokerage is still bullish due to strong fundamentals
what is the matter
The Reserve Bank of India has lifted the ban on Bajaj Finance’s eCOM and online digital Insta EMI Card. Bajaj Finance informed in its exchange filing that the Reserve Bank of India has lifted the ban on the company’s two products Ecom and online digital ‘Insta EMI Card’ with immediate effect. The company said that it will now resume loan approval and disbursal in these 2 business segments including EMI card issuance.
Let us inform you that on November 15, 2023, the Reserve Bank of India had directed Bajaj Finance to stop the approval and disbursal of loans under its two loan products ‘Ecom’ and ‘Insta EMI Card’ with immediate effect. On April 25, Bajaj Finance, in a press release announcing its January-March results, said it had made necessary changes after the Reserve Bank of India imposed business restrictions on two lending products last year. After this the company requested the regulator to review the business restrictions.
(Disclaimer: The advice for investing or selling stocks has been given by experts and brokerage houses. These are not the personal views of Financial Express. There are risks in the market, so take expert advice before investing.)