Bajaj Finance shares down 7% from recent 52-week high; should you add?

Shares of Bajaj Finance Ltd fell 0.62 per cent in Thursday's session, touching a day low of Rs 913.10. At this level, the stock is down 6.69 per cent from its adjusted 52-week high of Rs 978.59, recorded on June 9. The counter recently turned ex-split in a 1:2 ratio and ex-bonus in a 4:1 ratio.

Market experts maintained a bullish stance on the stock following recent corporate actions and the softening of the interest rate cycle.

"Bajaj Finance continues to be a strong investment story, primarily due to the consistent expansion of its lending portfolio. We maintain a clearly positive outlook on the company's growth prospects," said Deven Choksey, MD of DRChoksey FinServ Pvt, in a statement to Business Today.

"Bajaj Finance has drawn investor interest following its stock split and bonus issue. The stock appears appealing from a long-term standpoint, supported by the company's strong fundamentals and the easing interest rate cycle," said Kranthi Bathini, Director of Equity Strategy at WealthMills Securities.

"With all these (RBI) rate cuts coming in, non-banking financial companies (NBFCs) -- including Bajaj Finance -- are better placed and their NIMs (net interest margins) are going to improve going further," said Dharmesh Kant, Head of Equity Research at Cholamandalam Securities. He expects the NBFC space to move up by 15-20 per cent in this financial year (2025-26).

The stock continues to exhibit a strong technical structure, according to Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One. "The near-term trend remains bullish and any price dips could offer attractive entry points for investors," he noted.

Bajaj Finance is an NBFC with a wide product portfolio comprising loans for two-wheelers, consumer durables, housing and small businesses among others.