Bajaj Finance’s Share Price Surges 7% as RBI Removes Restrictions on its eCom and Insta EMI Card

Bajaj Finance shares surged over 7% in early trade on Friday following the Reserve Bank of India’s (RBI) decision to lift restrictions on the company’s two products, eCOM and online digital ‘Insta EMI Card’. The non-banking finance company announced that it would resume sanction and disbursal of loans in these segments, including the issuance of EMI cards.

The RBI had imposed restrictions on Bajaj Finance in November 2023 for failing to comply with digital lending guidelines, leading to a halt in the sanction and disbursal of loans under the two products. However, after taking remedial actions, the RBI lifted the restrictions with immediate effect, boosting investor confidence in the company’s management.

Analysts believe that the quick resolution of the restrictions is a positive start for Bajaj Finance in FY25 and could lead to higher customer acquisition and improved fee income. Emkay Global Financial Services maintained its ‘Buy’ rating on Bajaj Finance stock and kept its share price target unchanged at ₹9,000 apiece for March 2025.

In the fourth quarter of FY24, Bajaj Finance reported a consolidated net profit of ₹3,825 crore, a 21% YoY growth, with total income rising to ₹14,932 crore. The company’s net interest income (NII) also increased by 28% during the quarter.

At 9:20 am, Bajaj Finance shares were trading 6.69% higher at ₹7,341.00 apiece on the BSE, reflecting the positive market sentiment towards the company’s future prospects.