Bajaj Finserv shares gain after Nomura double-upgrades stock to buy

Bajaj Finserv share price NSE, Bajaj Finserv share price target: Bajaj Finserv shares on Friday rose as much as 2.8 per cent to touch the day's high of Rs 1,509.5 apiece in the early trade after opening at Rs 1,468.6 on the NSE after Nomura double-upgraded the scrip to buy from neutral. The global brokerage has raised the target price by 7 per cent to Rs 1,815 from Rs 1,700 on the counter. Mentioning it as more than just a lending business, Nomura expects Bajaj Finserv's strong business momentum to continue. Life insurance is a fast-growing franchise, and general insurance focuses on profitable growth, the brokerage said. 80 per cent of the value of Bajaj Finance is driven by Bajaj Finance itself, the brokerage further said. Bajaj Finserv shares finished up 2.41 per cent at Rs 1,504 apiece on NSE.

Here's how the stock has moved so far: 

Source: NSE

Bajaj Finserv share price history 

In the last 12 months (from August 25, 2022), Bajaj Finserv's stock has declined over 50 per cent. In comparison, the headline index Nifty 50 has rallied over 10 per cent.