Bajaj Finance: Momentum Meets Strong Fundamentals

Fundamental:

Revenue +18.35% YoY | PAT +21.99% YoY | 5Y Sales CAGR 27.59%| 5Y Profit CAGR 28.26% | P/E 33.8x vs sector 30.0x | Upside 31.74% | Operating Margin 68.10% | Promoter 54.67% (nil pledge) | Institutional holding 36.61%| ROCE 9.91%| Finkhoz Rating 8.50 Technical: Structural stabilisation within a broader macro uptrend — a solid higher-low base established after cooling off from the recent peak near ₹1,180 | Price bounced to ₹1,099.40), reclaiming the fast EMAs | RSI 56.05 — neutral-to-bullish with ample headroom to expand | MACD attempting to flatten in positive territory after a brief correction Moat: A distribution machine that competitors can copy in form but not in reach. It's advantage is the point-of-sale network — consumer durable financing at the checkout counter across urban and rural India, which puts it in front of the borrower before a bank ever sees the application. That first touch converts into an EMI card, then a personal loan, then a mortgage, and the cross-sell franchise is what a new entrant cannot replicate by pricing alone. Underneath sits nearly two decades of repayment data across roughly 100 million customers, which is what allows underwriting speed at scale in segments banks approach cautiously.