$BAJAJFINSV From 52-Week High to Biggest Loser in Four Days | Bajaj Finance

$BAJFINANCE Four days ago, Bajaj Finance touched a 52-week high of Rs 1,177.60. Today it is the worst-performing stock on the entire Sensex, crashing 5.5 per cent to Rs 1,086 in morning trade — erasing over Rs 33,500 crore in market cap within a single session. The trigger is a set of draft norms released by RBI yesterday proposing that non-bank lenders be allowed to offer only term loans and be required to discontinue revolving credit products. For Bajaj Finance, this is a direct hit on its flexi loan product — one of the company's most distinctive and profitable lending innovations — which analysts estimate could account for nearly 25 per cent of its total AUM. If implemented in their current form, the draft guidelines could mean slower loan growth, lower fee income and a fundamental change to Bajaj Finance's product strategy, making this regulatory uncertainty the single most important overhang the stock has seen since its accounting questions in 2023. Bajaj Finserv and Shriram Finance are also among today's top Nifty losers as the selling pressure spreads across the NBFC sector. Nifty Financial Services and PSU Banks are underperforming the broader market, while Nifty IT is the only sector in the green, rising 1 per cent as TCS and Infosys lead. The market's message today is clear — regulatory risk can unwind weeks of earnings-driven gains in hours. Whether RBI finalises these norms as drafted, or softens them after industry feedback, will now be the defining story for India's NBFC sector in the weeks ahead.