Shares of NBFC major Bajaj Finance tumbled sharply on Tuesday, November 11, sliding as much as 7.4 per cent to Rs 1,005.05 on the BSE, compared with the previous close of Rs 1,085.40. The sell-off came despite the company delivering what brokerage JM Financial termed an inline quarter. Advertisement

As per JM Financial’s note, the management reduced its AUM growth forecast for FY26E to 22–23 per cent, down from the earlier 24–25 per cent range.

The brokerage attributed the cautious stance to rising stress in key segments and asset quality pressures. It noted that MSME stress and challenges in the captive two- and three-wheeler portfolios were weighing on the lender’s performance. Gross Stage 3 (GS3) assets rose 21 basis points sequentially to 1.24 per cent, with management acknowledging

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