In a fluctuating market landscape, India’s foremost Non-Banking Financial Company (NBFC), Bajaj Finance, encountered a momentary setback as its shares experienced a 3% decline on Thursday morning. This descent, culminating in a low of Rs 6,937 on the Bombay Stock Exchange (BSE), was triggered by a directive from the Reserve Bank of India (RBI).
The directive mandated a temporary cessation of loans under Bajaj Finance’s eCOM and Insta EMI Card products, citing concerns related to non-compliance with digital lending guidelines.
Bajaj Finance share price falls over 3%
Bajaj Finance faced a temporary setback when its shares dropped by 3% on Thursday morning. This decline, reaching a low of Rs 6,937 on the Bombay Stock Exchange (BSE), was prompted by a directive from the Reserve Bank of India (RBI). The RBI instructed a temporary halt to loans under Bajaj Finance’s eCOM and Insta EMI Card products, expressing concerns about non-compliance with digital lending guidelines.
Bajaj Finance share price News
The news came on Friday morning, via X official shares the entire information. However, the story took a unique turn, and Bajaj Finance exhibited resilience, with shares recovering to trade 0.3% higher. This resilience wasn’t exclusive to Bajaj Finance alone.
Its holding company, Bajaj Finserv, mirrored the tragic decline, experiencing a 3% drop to Rs 1,540 before bouncing back. Which is quite distinctive in the past years. This sudden fall makes it clear that Balaji Finance faces a lot of sudden falls in a very distinctive way.
Bajaj Finance share price target
Have a look at the insights provided by 11 analysts who have collectively contributed 31 reports on the long-term price projections for Bajaj Finance Ltd. According to their assessments, the average target for Bajaj Finance Ltd. stands at 8845.78. This figure suggests a potential upside of 18.06% when compared to the latest recorded price of 7492.65. These projections offer a comprehensive overview of the positive trajectory anticipated by industry experts.
Bajaj Finance stock recoups early losses post RBI ban
On November 16, Bajaj Finance faced a notable downturn or decline, with its stock witnessing a 3 percent decline and reaching Rs 7,033. This initial setback, however, was followed by a reversal in fortunes as the day unfolded. Subsequently, Bajaj Finance managed to recover from the early downfall, and its stock began trading in positive territory once again without any falsehood. This fluctuation in share value occurred in the aftermath of a significant development the Reserve Bank of India (RBI) had, just a day prior, imposed restrictions on the non-banking finance company (NBFC). Specifically, the RBI directive mandated Bajaj Finance to cease the sanctioning and disbursal of loans under two of its lending products. This regulatory intervention added an additional layer of complexity to the company’s market dynamics, prompting investors and analysts to closely monitor the unfolding situation for potential implications on Bajaj Finance’s financial performance and future prospects.
In response to the RBI directive, Bajaj Finance issued a regulatory filing, confirming the immediate halt of loan approvals and immediate payment under the specified products. Stay updated with us for more share price news upon this!