Jefferies predicts a target price of Rs 9,470 for Bajaj Finance, valuing it at 5.4 times the book value by March 2026. JFS, on the other hand, doesn’t have a specified target. During a brief investor call, Jefferies highlighted JFS’s focus on consumer loans and supply chain finance, expanding its client base in insurance broking to 27. Despite concerns about competition, Jefferies sees limited risk for Bajaj Finance and banks.
Jio Financial aims for balanced growth, emphasizing secured products like Device-as-a-Service (DaaS) for airfiber, phones, and laptops, along with supply chain financing, loan against shares, and home loans. Jefferies mentions JFS’s strong capabilities in unsecured personal loans and consumer durable loans.
While JFS hasn’t received a specific target from Jefferies, it suggested a Rs 3,125 price target for Reliance Industries Ltd. Jio Financial’s shares were down 5%, while Bajaj Finance’s stock was up half a percent.
Jio Financial
Beyond lending, Jio Financial, as an insurance broker, partnered with three more insurers, totaling 27 across general and life insurers. In the Payments Bank division, it revamped the digital savings account and soft-launched a debit card. In payment solutions, it piloted Jio Voice box, enabled UPI on Jio phones, and implemented QR codes.
Jefferies noted that JFS applied to Sebi for an asset management license with Blackrock, seeking conversion from an NBFC to Core Investment Company (CIC). Additionally, it formed a 100% subsidiary, JIASL, for leasing operations.
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