Stocks to buy today: Bajaj Finance shares saw buying interest after a four-session gap. Bajaj Finance share price today opened higher at ₹962.55 apiece on the NSE and touched an intraday high of ₹995.80 per share, clocking around 3% against Thursday’s close of ₹948.30. However, stock market experts are still bullish on the stock and expect it to continue its uptrend.
Experts believe that Bajaj Finance has declared raising funds worth ₹17,500 crore ( ₹11,700 crore through the QIP and ₹5,800 crore through a preferential issue of warrants to the promoter and holding company, Bajaj Finserv). They advised Bajaj Finance shareholders to hold the scrip for further upside, as the stock is on the cusp of giving a fresh breakout on the technical chart also. So, Bajaj Finance shares are strong from both a fundamental and technical perspective.
Bajaj Finance shares | Why are experts bullish?
Highlighting the reason for the rally in the Bajaj Finance share price today, Mahesh M Ojha, VP — Research and Business Development, said, “Bajaj Finance shares gathered an upside momentum after falling for the four successive sessions. However, this is not because of the relief rally on Dalal Street. The Bajaj Group company has announced a ₹17,500 crore fundraising, attracting the attention of stock market bulls. I believe the stock is available at a discount, and bulls are still not content with the rally this stock witnessed on Monday. It has more steam left.”
Bajaj Finance share price target
Advising Bajaj Finance shareholders to hold the scrip, Sumeet Bagadia, Executive Director at Choice Broking, said, “Bajaj Finance share price has strong support placed at ₹930 and existing shareholders should hold the scrip, maintaining stop-loss at ₹930. The stock may deliver significant upside after giving a technical breakout above ₹1,020 on a closing basis.”
Bagadia said fresh investors can buy Bajaj Finance shares at the current market price, maintaining the stop-loss at ₹930 for the short-term target of ₹1,020 and ₹1,050.
The global brokerage Jefferies has also given a ‘buy’ tag to Bajaj Finance shares, expecting 35% upside with a target price of ₹1,280. The brokerage has also set a price target of $28 per share for the Bajaj Finance ADR on the NYSE.
Disclaimer: This story is for educational and informational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified financial experts before making any investment decisions.
