NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Axis Securities Report
Axis Securities has unveiled its top stock picks for Februrary 2026, spotlighting opportunities across large-cap, mid-cap, and small-cap segments.
Bajaj Finance
The brokerage expects Bajaj Finance Ltd. to continue its growth trajectory, reporting a consistent ~24-25% CAGR AUM growth over the medium term, with growth resuming from FY27 onwards, with contribution from the core existing products and a further push from the scale-up of the new products. Axis Securities expects Bajaj Finance to deliver a strong AUM/NII/Earnings growth of 25/25/24% CAGR over FY27-28E, driven by
- steady NIMs,
- Operating leverage driving cost ratio improvement, and
- downward trending credit costs backed by asset quality improvement.
The brokerage expects Bajaj Finance to deliver a RoA/RoE of 4.4-4.5%/19-22% over FY26-28E, broadly in line with the management’s long-term guidance.
Key Risks:
- Slowdown in credit growth momentum,
- Asset Quality challenges in newer segments.
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