Bajaj Finance Stock Downgrade: Citi Revises Rating to Neutral Amid Outperformance
In a recent move, brokerage firm Citi has downgraded Bajaj Finance to 'Neutral' from its previous rating, citing the stock's significant outperformance of the Bank Nifty index. Over the past year, Bajaj Finance has outshone the Bank Nifty by 23% year-to-date and 20% over the past 12 months, prompting Citi to reassess its stance. This downgrade comes on the heels of Bajaj Finance's Q4 results, which have sparked a flurry of price target revisions from various brokerage firms. As investors navigate this development, it's essential to keep an eye on the stock's future prospects, including its potential impact on the Indian banking sector and the broader financial markets. With the stock's valuation being closely watched, market participants are advised to stay informed about the latest price targets and analyst recommendations. Key trends to watch include the stock's performance relative to the Bank Nifty, as well as the overall outlook for the financial services sector in India, including personal finance and lending services.
