04-Nov-2026 08:38:48

JEFFERIES ON BAJAJ FINSERV ; BUY | TARGET ₹2,300 (EARLIER ₹2,550)

• Bajaj Finance and life insurance remain key growth drivers; general insurance faces underwriting pressure. • Life insurance product mix shifting towards term plans and annuities, supporting margins. • Mutual fund business continues to scale up. • Regulatory clarity on insurance commissions and expenses remains critical. • Jefferies cuts core profit estimates by 1–2%.

BAJAJ FINSERV LTD.

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