The stock opened with a gap-up at ₹91 and climbed to an intraday high of ₹94 on the National Stock Exchange (NSE).
JPMorgan upgraded Bajaj Housing Finance to ‘Neutral’ from ‘Underweight’ and placed the stock on Positive Catalyst Watch. The brokerage retained a price target of ₹85.
According to JPMorgan, the company is likely to exceed market expectations for loan growth in FY27. While the Street expects loan growth of around 22%, the brokerage projects 25% growth. Bajaj Housing Finance reported 24% year-on-year loan growth in the June quarter.
The brokerage also expects the company to maintain prudent management of its cost of funds during the quarter. It said Bajaj Housing Finance has a best-in-class franchise that deserves a premium valuation, which it believes is already reflected in the stock’s FY28 estimated valuation multiples.
JPMorgan continues to prefer PNB Housing Finance as its top pick in the housing finance space, while maintaining a ‘Neutral’ stance on LIC Housing Finance.
For the June quarter, Bajaj Housing Finance reported gross disbursements of ₹19,500 crore, compared with ₹14,651 crore in the year-ago period and ₹17,506 crore in the March quarter.
Assets under management (AUM) grew 24% year-on-year to approximately ₹1.50 lakh crore as of June 30, 2026, from ₹1.20 lakh crore a year earlier.
The company’s loan assets stood at ₹1.31 lakh crore at the end of the quarter, up from ₹1.06 lakh crore in the corresponding period last year.
