Bajaj Finance Share Price Today: AI Voice Bots, Q2 FY26 Results and Broker Targets

Published: 8 December 2025

Bajaj Finance Limited (BFL), one of India’s most closely watched non‑banking financial companies (NBFCs), is back in the spotlight as its share price cools off slightly while the company doubles down on an aggressive artificial intelligence (AI) strategy.

On 8 December 2025, Bajaj Finance share price is trading around ₹1,028–1,030, down about 1.9% intraday, giving the company a market capitalisation of roughly ₹6.4 trillion (₹6.4 lakh crore). The stock is still up more than 50% in 2025 and sits not far below its 52‑week high of ₹1,102.45, well above its 52‑week low near ₹648. ^[1]

At the same time, the firm has unveiled bold AI ambitions—highlighted today by fresh commentary on its voice‑bot lending plans—even as investors continue to debate whether the premium valuation (P/E around 35x) can be justified in the face of rising credit costs. ^[2]

Let’s walk through today’s key news (8 December 2025), the latest quarterly numbers, and what brokerages and forecasts are saying about Bajaj Finance stock from here.

1. Bajaj Finance share price today (8 December 2025)

As of late morning on 8 December 2025, Bajaj Finance:

Trades at ₹1,028.70, down 1.88% versus the previous close of ₹1,048.45.
Has a day range of ₹1,024 – ₹1,048.45 so far.
Is up ~53.8% year‑to‑date and about 1% over the last five trading sessions. ^[3]

From a valuation standpoint:

TTM P/E is in the ~34–35x zone, versus a sector P/E around 30x. ^[4]
Price‑to‑book (P/B) is roughly 6–6.5x. ^[5]
Beta is about 1.2, signalling higher volatility than the broader market. ^[6]
Debt‑to‑equity is around 3x, typical for a large lender but on the higher side versus some peers. ^[7]
Dividend yield is low—around 0.4–0.5%—underlining that this is primarily a growth stock, not an income play. ^[8]

Technically and historically:

The stock has delivered ~48–50% returns over the last 12 months, and a staggering ~1,700%+ return over 10 years, massively outperforming the Sensex over that period. ^[9]
Yet, recent trading has been choppy, especially after Q2 FY26 results and the guidance cut, with at least one single‑day fall above 7% in November as valuation and asset‑quality worries flared up. ^[10]

So: Bajaj Finance remains a high‑quality, high‑valuation, high‑beta name. The market still loves it—but it’s much less forgiving of any wobble in growth or credit quality.

2. Big news today: AI voice bots set to disburse ₹5,300 crore in FY26

The headline development on 8 December 2025 is about Bajaj Finance’s AI‑driven distribution strategy:

The company expects its AI‑powered voice bots to disburse around ₹5,300 crore of loans in FY26, their first full year of operation. ^[11]
Over FY26–30, Bajaj Finance plans for this “robocall” channel to be fully taken over by AI agents, forming a core plank of its long‑range “FINAI” strategy. ^[12]

According to the Times of India and recent investor presentations:

Management expects AI to cut operations and service workloads by about 90%,
Lift the digital contribution of business to ~30%,
Support 10 crore (100 million) loans and 16–18 crore app installs by FY30,
And help reduce defaults by spotting stress early using data and machine‑learning models. ^[13]

This AI infrastructure isn’t theoretical:

Bajaj Finance already runs hundreds of AI voice agents, handling millions of calls every month, and
Uses computer‑vision systems at over 300 locations to process documents and support facial recognition for KYC and risk controls. ^[14]

The message to the market is clear: Bajaj Finance wants to turn itself into an AI‑first lender, hoping to trade not just on growth but on “tech stock” style efficiency and scalability. Whether the market rewards that with even higher multiples, or just uses it to justify current rich valuations, is the open question.

3. Q2 FY26 results: strong growth, but credit costs creep up

The latest reported quarter is Q2 FY26 (July–September 2025), and it explains a lot of the recent volatility.

Key financials:

Net profit (PAT): about ₹4,875 crore, up ~22% YoY from ~₹4,000 crore. ^[15]
Net interest income (NII): ₹10,785 crore, up 22% YoY. ^[16]
Pre‑provision operating profit (PPOP): about ₹8,874 crore, +21% YoY. ^[17]
Assets under management (AUM): around ₹4.62 lakh crore, up 24% YoY. ^[18]
New loans booked: 1.22 crore in the quarter, up ~26% YoY. ^[19]

Asset quality and provisions:

Loan losses and provisions rose 19% YoY to ₹2,269 crore. ^[20]
Annualised loan losses and provisions to average assets stood at ~2.05%, above the midpoint of management’s full‑year guidance. ^[21]
Gross NPA rose to 1.24% (from 1.06% a year ago) and Net NPA to 0.60% (from 0.46%), with ~52% coverage on Stage‑3 assets. ^[22]

Guidance and growth outlook:

Management cut its FY26 AUM growth guidance by about 200 bps, from roughly 24–25% earlier to 22–23%, citing slower trends in SME and housing segments and tighter risk filters in unsecured MSME lending. ^[23]
Credit cost guidance was maintained at 1.85–1.95%, but the actual run‑rate is temporarily above 2%, which has made some analysts nervous. ^[24]

So Q2 FY26 was operationally solid, but two issues popped out:

Asset quality is no longer improving; it’s mildly deteriorating, from very low levels.
Growth is still high‑teens to low‑20s, but slower than the hyper‑growth that once justified “tech‑style” multiples.

That combination is precisely what triggered the ~7% single‑day fall in the stock on 11 November 2025, even though profits were broadly in line with expectations. ^[25]

4. Market reaction: rich valuations meet rising risk

After Q2 FY26, multiple research platforms labelled Bajaj Finance as “high quality, but very expensive”:

MarketsMojo, for instance, tags the stock’s valuation as “Very Expensive” with a P/E near 38x, P/B around 7x and a PEG ratio of 2.4. ^[26]
It also notes an ROE of ~17–18%, strong long‑term earnings CAGR above 20%, and 10‑year stock returns well north of 1,700%—a classic “excellent business, demanding price” situation. ^[27]

As of today, more recent data from Mint and CompaniesMarketCap still shows:

TTM P/E in the mid‑30s, higher than the sector but lower than the peak multiples the stock enjoyed earlier in the decade. ^[28]
P/B around 6–6.5x, the highest among major NBFC peers. ^[29]

In other words:

Growth is excellent by industry standards,
Returns on equity are very good but no longer stratospheric,
and the valuation still prices in near‑flawless execution.

That’s why even minor upticks in NPAs or cuts in growth guidance get amplified into big stock moves. The market is basically saying: “We still love you, Bajaj—but don’t slip.”

5. Analyst forecasts and share price targets (2025–2026)

Analyst opinion on Bajaj Finance is bullish on the business, divided on the stock.

Consensus view: a quality franchise, rated “Hold”

According to Mint’s compilation of broker ratings (updated 8 December 2025):

33 analysts currently cover the stock.
The average rating is “Hold”, with
- 5 Strong Buy,
- 9 Buy,
- 13 Hold,
- 5 Sell, and
- 1 Strong Sell recommendations. ^[30]

That’s a very split house for such a widely admired company—exactly what you’d expect when valuation is the main argument, not business quality.

While different providers give slightly different numbers, the 12‑month Bajaj Finance share price targets for 2025–26 cluster broadly between ₹1,000 and ₹1,250, with some outliers. ET’s broker roundup on 11 November gives a flavour: ^[31]

Jefferies – Buy, target ₹1,270; sees ~23% profit CAGR over FY25–28 and expects credit costs to moderate.
HSBC – Buy, target ₹1,200; models ~28% EPS CAGR over FY26–28 and values the stock at 5.4x FY27 book.
CLSA – Outperform, target ₹1,200; calls Q2 a “solid quarter”, notes 24% AUM growth and stable NIMs, though acknowledges mixed asset quality and trimmed growth guidance.
Morgan Stanley – Overweight, target ₹1,195; still sees Bajaj Finance as one of the strongest large‑cap financials, with >25% EPS CAGR over FY25–27 and ROE of ~21% by FY27, but recognises the guidance reduction might cap short‑term sentiment.

On the cautious side:

Motilal Oswal – Neutral, target ₹1,160; expects ~25% PAT CAGR over FY25–28 with ROE >22%, but thinks current valuations around 5x FY27 book and 26x FY27 P/E leave “limited upside” and few re‑rating triggers near term. ^[32]
Emkay Global – Reduce, target ₹1,000; trims FY26–28 EPS estimates by 5–6%, expects credit costs to stay toward the upper end of 1.85–1.95%, and anticipates Bajaj Finance’s valuation premium over peers to gradually narrow. ^[33]
Bernstein – Underperform, target ₹640, implying big downside from current levels. It flags rising NPAs across segments, two consecutive quarters of credit costs above guidance, slower MSME growth and a 25% drop in unsecured MSME loan volumes as reasons to be wary. ^[34]

Put simply:

The bullish camp sees Bajaj Finance as a compounding machine that can still compound earnings at 20–25% in coming years, with AI and digital scale as additional tailwinds. ^[35]
The bearish camp doesn’t doubt the franchise—but worries that slightly slower growth plus slightly higher credit costs add up to too high a price.

6. Strategic drivers: AI, diversification and capital moves

6.1 AI & “FINAI” strategy

Beyond today’s robocall news, Bajaj Finance has been systematically pitching its “FINAI 2026–30” roadmap to investors:

Around 123 AI use cases planned, with dozens already live, covering everything from collections and underwriting to marketing banners and video generation. ^[36]
AI voice bots handle millions of service calls, and the company aims for “zero branch walk‑ins” and “zero escalations” on the service side by FY30. ^[37]
A dedicated 147‑member AI unit runs on a multi‑cloud stack (including Google Cloud and Salesforce), with computer‑vision systems already processing multiple document types and facial recognition in hundreds of locations. ^[38]

The strategic bet: AI can lower operating cost per loan, cut credit losses and increase digital originations, helping Bajaj Finance sustain mid‑20s earnings growth without needing equally high AUM growth forever. Brokers like Jefferies and HSBC explicitly cite these digital and AI initiatives when justifying high‑teens ROE and mid‑20s EPS CAGR forecasts. ^[39]

6.2 Stake sale in Bajaj Housing Finance

On 2 December 2025, Bajaj Finance sold about 2% of its stake in subsidiary Bajaj Housing Finance Ltd (BHFL) via a block deal, raising roughly ₹1,588 crore. Its stake in BHFL now stands around 86.7%. ^[40]

The sale:

Triggered a sharp 7–9% fall in BHFL’s share price on the day, according to market reports. ^[41]
Adds capital flexibility for Bajaj Finance at a time when regulators globally are watching leverage and housing credit closely.

While the company hasn’t pitched this as a big strategic reset, it subtly de‑risks concentration in housing and provides capital that can be deployed into higher‑return or tech‑heavy initiatives, including the AI roadmap.

6.3 Regulatory overhang: the RBI digital‑lending episode

Investors haven’t forgotten that in November 2023, the RBI barred Bajaj Finance from issuing loans under its e‑COM and Insta EMI Card lending products for breaches of digital‑lending guidelines, including failure to properly disclose key information to borrowers. ^[42]

Those restrictions were lifted in May 2024, after Bajaj Finance implemented the required changes. The episode:

Shaved off some growth in FY24,
Reminded the market that regulatory risk is real for aggressive digital lenders, and
Likely partly explains the more measured growth guidance management now provides. ^[43]

It also arguably nudged Bajaj Finance toward more transparent processes and stronger digital governance, which meshes with the current AI‑and‑automation narrative.

6.4 Macro backdrop: Nomura’s Nifty call and NBFC positioning

On 2 December 2025, Nomura projected Nifty 50 at 29,300 by end‑2026, roughly 12% above current levels, and flagged Bajaj Finance as one of its top Indian stock picks for 2026, alongside ICICI Bank, Axis Bank, UltraTech Cement, Mahindra & Mahindra and Infosys. ^[44]

Nomura’s stance:

Overweight financials and non‑bank lenders,
But cautious on “narrative‑driven stocks with stretched valuations”, which it warns may deliver flat returns despite strong fundamentals. ^[45]

Bajaj Finance sits right on that fault line: exactly the kind of high‑quality NBFC Nomura likes fundamentally, and exactly the kind of valuation‑rich story it warns may need time correction if expectations run ahead of reality.

7. Key risks investors are watching

Putting all the recent news and analysis together, the main risk factors being discussed around Bajaj Finance stock today are:

Valuation risk
- P/E in the mid‑30s and P/B around 6–7x leave little margin of safety if growth slows or asset quality deteriorates. ^[46]
Asset‑quality drift
- GNPA and NNPA ratios have ticked up (1.24% and 0.60% respectively), and credit costs are running a bit above the guided range. ^[47]
- Bernstein and others worry that stress is emerging in multiple segments, especially MSME and unsecured loans, and that credit cost assumptions may still be too optimistic. ^[48]
Growth moderation and mix
- AUM growth guidance cut to 22–23% for FY26, with some shift towards secured lending (like mortgages) where yields are lower. ^[49]
- If growth normalises while valuations remain “hyper‑growth‑like”, returns for new investors could be muted.
Regulatory and tech execution risk
- The 2023–24 RBI action shows regulators are willing to intervene. ^[50]
- Heavy reliance on AI and automation raises operational and model‑risk questions—wrongly tuned credit models or biased algorithms could create problems faster than humans can spot them, although the company insists AI will improve risk management, not weaken it. ^[51]
Funding and rate environment
- With a debt‑to‑equity ratio around 3x, Bajaj Finance is sensitive to funding cost changes. ^[52]
- If rates stay higher for longer, NBFCs with high growth aspirations must carefully balance spreads, growth and credit quality.

8. So, is Bajaj Finance stock attractive at ~₹1,030?

Taking today’s picture (8 December 2025) as a whole:

The business
- Consistently high growth (AUM +24% YoY, PAT +22% YoY),
- Strong profitability, with ROE still in the high‑teens and a long history of compounding,
- Deep diversification across consumer, SME and housing finance and a growing deposit base,
- And a very ambitious AI‑centric strategy aimed at structurally reducing costs and improving underwriting. ^[53]
The stock
- Trades at a clear premium to sector P/E and P/B,
- Has already delivered ~50%+ returns in 2025 alone, and
- Is widely loved but also widely held, which means sentiment can flip quickly when numbers slightly disappoint. ^[54]
The street’s verdict
- Aggregate broker rating: Hold.
- Bullish targets (₹1,200–1,270) assume 20–30% EPS CAGR and smooth execution of the AI & growth plan. ^[55]
- Cautious or bearish targets (₹640–1,000) assume prolonged pressure on credit costs, competitive yield compression and some de‑rating of the valuation premium. ^[56]

For an investor looking at Bajaj Finance on 8 December 2025, the trade‑off is stark:

You’re buying into one of India’s premier lending franchises, now trying to morph into an AI‑super‑charged financial platform.
But you’re paying a valuation that already assumes that this transformation works and that credit quality remains well‑behaved.

Nothing in today’s news—the AI voice‑bot expansion, the stable but slightly strained asset quality, or the mixed but mostly positive broker commentary—really changes that equation. It simply sharpens it:

Bajaj Finance is still a “great business at a demanding price.”
The core question is less “Is it good?” and more “How much certainty do you need to pay this kind of multiple?”

Anyone considering the stock now needs to weigh:

Their time horizon (Bajaj Finance has rewarded patient, long‑term holders spectacularly),
Their tolerance for volatility (a 7–10% single‑day swing is not unusual here), and
Their comfort with AI‑driven, highly regulated, leveraged financial businesses.