#BAJFINANCE Support and Resistance setupSystem: Positional trading1. Stock bounces from near their support levels.2. Stock is trading above

​Aditya Birla Finances assets under management (AUM) as of June 30, stood at Rs 85,891 crore, up 49% from the year-ago period. The fund infusion by the Aditya Birla Group company comes just a day after Bajaj Finance said its board will meet on October 5 to consider raising funds through preferential issue of shares or a qualified institutional placement

The overall trend has definitely reversed from up to down as far as the Nifty or maybe the Bank Nifty and the Nifty financial services is concerned. I mean, the recent four days of fall, which we had seen, I mean, all of these indices have completely changed the trend.

Sharekhan is bullish on Bajaj Finance has recommended buy rating on the stock with a target price of Rs 8800 in its research report dated September 25, 2023.

" We say that the next HDFC is HDFC and similarly, the next Bajaj Finance is Bajaj Finance. Obviously, we cannot expect an encore of the last decade in terms of stock price CAGR but now it is almost two years that Bajaj Finance stock has done nothing. It hit around Rs 7,500 on September 21. After two years, Bajaj Finance has at least got its online piece right. They have caught up in the online world now."

While the finer details on Mukesh Ambani's gameplan in the financial services sector is yet to be made public, Jio Financial has plans to foray into consumer, merchant and MSME lending. Market reports suggest that the company has already started consumer lending pilots in consumer durable and lifestyle stores owned by Reliance Retail.

“Typically the real estate market always relies on a lot of incentive-based kind of selling and if we are going to have a government incentive or a subsidy coming in on the interest side, it should give a great deal of fillip to the real estate sector and that is positive news.”

Analyst remain bullish as the board meets on October 5 to take a decision on the fundraising plan. The NBFC is likely to take the QIP or/and preferential issue route, with four investment banks shortlisted for the purpose

The fundraising plan helped the stock shrug off the recent underperformance on account of concerns over rising competition and pricey valuations.

On Monady, sectorally, buying was seen in realty, consumer durables, banks, and healthcare and selling in IT, capital goods and telecom space

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Meanwhile, another foreign brokerage firm CLSA, which has a 'Buy' rating on the stock, raised its target price for Bajaj Finance to Rs 9,500 from 9,000 earlier.

Antique initiated coverage on IRCON International with a buy rating and a target price of Rs 176. Railway dominated order book which gives revenue visibility.

The non-bank finance lender announced a board meeting on October 5 to make a final decision on the fund raise plans, its deal size and the mechanism.

State Bank of India (SBI) has raised about Rs 10,000 crore through issuance of infra bonds, which carry a coupon rate of 7.4%. This is the fourth such issuance of infra-related bonds by the Bank.

From the top-10 pack, Reliance Industries, HDFC Bank, ICICI Bank, Infosys, ITC, State Bank of India, Bharti Airtel and Bajaj Finance were the laggards while Tata Consultancy Services (TCS) and Hindustan Unilever were the gainers.

Bajaj Finance had a liquidity buffer of Rs 12,704 crore as of June- end. The capital adequacy remained strong at 24.61% as of June 30, with tier-1 capital at 23.01%

This article delves into 10 Nifty stocks that have recently experienced the Golden Crossover, providing insights for potential investors. Join us in understanding this pattern's importance and its potential impact on your investment decisions.

Niftys progress is a testament to the trust Indian and foreign investors place in Indias capital markets and its regulatory legal system to provide a fair, efficient, transparent, low-cost, always available, orderly marketplace that is better than the best in the world

“I would not say the market is overvalued as a pack. There are segments that you should not have exposure to, in my view, and there are certainly segments that deserve more and more exposure at this stage, given what has happened in the last two years, ” says Rakshit Ranjan of Marcellus Investment Managers.

“We were like 50% plus in smallcaps. We have reduced the exposure over the last two months. And now smallcaps are less than 35% of the portfolio and the overall portfolio valuation also. We are tracking Nifty rather than being in the mid and smallcap range. There are select pockets still in smallcaps, but very selective.”

"The market is large enough. There are many bigger brothers and sisters that we have. Even being present in 4,000 cities (currently) with assets close to ₹3 lakh-crore, we still have less than 2% of India's credit market," Sanjiv Bajaj said, responding to Bain Capital chairman Amit Chandra during a fireside chat after delivering a speech at an event organised by the Indian Merchants Chambers (IMC).

Despite high inflation and slowing economic growth, many middle-class Indians are still buying consumer products on credit. Unsecured loans, including loans for consumer goods and credit cards, have become a key driver of consumption in the country. The demand for financing consumer durables primarily comes from the low- to middle-income segment, with young professionals and millennials being the most substantial demand drivers.

Motilal Oswal is bullish on Bajaj Finance recommended buy rating on the stock with a target price of Rs 8800 in its research report dated September 06, 2023.

On the back of its omni-channel strategy, Bajaj Finance anticipates greater customer acquisition, improved customer loyalty, increased cross-selling opportunities, and improved margins

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CLSA maintained a buy rating on Bajaj Finance with a target price of Rs 9000. It is well-poised on growth and profitability for the medium term.

Crossing the 50-day SMA indicates positive momentum and potential shifts in market sentiment.

While the entire sector stands to benefit, foreign broking firm Nomura thinks this is a big positive for Bajaj Finance and its housing finance subsidiary Bajaj Housing Finance Ltd, from a ‘liability-garnering and finer-pricing perspective’.

Smallcaps are indeed the most attractive and exciting space in the capital markets and have been known to create the biggest wealth compounders over the years – provided one practices enough due diligence, patience, and discipline while investing in this segment

​Also, I think I would be eagerly looking forward to the announcements in Jio Financial, considering that is the latest one which got demerged. They are stitching together a good team. It is a great brand. They have a good capital base and more importantly they have the technology and data analytics. So, this is what you need for any financial services to do well.

The request was made during a meeting on Friday of top NBFC executives with RBI governor Shaktikanta Das, deputy governors M Rajeshwar Rao and Swaminathan J, among others, multiple people familiar with the matter said.

Prakash Industries was the top gainer from the smallcap pack with nearly 35% returns, followed by Koopran (33.3%), Titagarh Rail Systems (28.5%), and Jupiter Wagons (26.2%).

The slide in domestic equities on Friday also came after the minutes of the RBI's latest policy meeting flagged near-term risks to inflation due to a recent spike in food prices and a liquidity overhang in the banking system. Investors now await Federal Reserve Chair Powell's speech at an annual gathering of global central bankers, due later on Friday, for cues into the US central bank's rate trajectory

Bajaj Finance's plans to further expand its product lines, including micro finance, new car and tractor and gold loan financing, will provide support to its growth aspirations, says Namura which initiated coverage on the stock with 'buy' call

"Bajaj Finance has been delivering healthy growth in assets and parameters. It may not outperform significantly, but for investors seeking stable returns of around 18-20%, it is a recommended stock. However, for those looking for growth, Jani suggests considering banks like Axis Bank or ICICI Bank, which offer better growth prospects due to higher valuation comfort."

While RIL has an impressive track record in disrupting retail and telecom segments, analysts point out that lending is a different game from the perspective of underwriting, collection and analytics. "Building and testing these systems and underwriting algorithms may take a considerable amount of time. Further, JFSs execution capabilities would be clear only with time," Nomura's Ajit Kumar said.

BofA Securities maintained a buy rating on Bajaj Finance with a target price of Rs 8750. The company has multiple levers to support growth. The focus is on diversification. It has taken proactive action on unsecured growth, and the FY24 target remains intact.

As part of the demerger, JFSL has received 413 million treasury shares or 6.1% of the total share capital of RIL. At the current market price, the value of these shares is about Rs 1 lakh crore.

Jio Financial Services will be in between say a traditional lending business or a traditional financial services business and a tech, a complete fintech based business because it will probably try and use best of both the worlds.

On the longer time frame, the counter witnessed a breakout of trend-line resistance at around Rs 2450 levels on the daily chart. It retested near its breakout levels and started a new leg of the rally towards Rs 2600. The structure of the counter is good for long-term investors, as it is trading above all the important moving averages.

The market cap for Jio Financial Services will be greater than Nifty 50 giants like UPL, Hero MotoCorp and Apollo Hospitals. It will even trump IndusInd Bank's market cap of Rs 1.06 lakh crore, Britannia's Rs 1.09 lakh crore and Tech Mahindra's Rs 1.17 lakh crore

The growing and prominent role of fintech in leveraging embedded finance to unlock new value chains, empower underserved populations, and drive economic growth is undisputed.

A Golden Crossover suggests a shift from a bearish to a bullish sentiment, indicating a potential trend reversal. The pattern also provides validation for a stock's positive momentum and can bolster investor confidence