Bajaj Finance share price surged by 3.6%, hovering around its all-time high after Bharti Airtel, a leading telecom company, announced a strategic collaboration with the private-sector Non-Banking Financial Company (NBFC) Bajaj Finance on Monday. This partnership aims to develop a digital platform for financial services to improve the last mile delivery of financial services and promote digital inclusion. Bajaj Finance share price opened at an intraday low of ₹7,182.10 apiece on the BSE, the stock touched an intraday high of ₹7,442.60.
The firm mentioned in an exchange filing that this unique partnership combines Airtel’s extensive customer base of 375 million, a robust distribution network of over 1.2 million, and Bajaj Finance’s wide array of 27 product offerings alongside its substantial distribution strength of more than 5,000 branches and 70,000 field agents.
For a smooth and safe consumer experience, Airtel will first provide Bajaj Finance’s retail financial products via its Airtel Thanks App. Later, it would do so through its nationwide network of retail locations. Airtel and Bajaj Finance’s combined digital asset power will allow them to greatly increase the market share of financial services and products, the company said in an exchange filing.
“Our partnership with Airtel not only leverages India’s digital infrastructure for inclusive growth but also brings together the expertise and reach of two of India’s leading and most-trusted brands. Together with Airtel, we seek to be the financier of choice to India and enable millions to access financial services, even in remote areas. We are excited to join hands with Airtel at a time when Bajaj Finance is harnessing the power of AI to enhance efficiencies and elevate customer experiences,” said Rajeev Jain, Managing Director, Bajaj Finance.
Bajaj Finance share price today
Sachin Gupta, Senior Research Analyst at 5paisa said that the stock has confirmed a bullish flag pattern breakout on the daily chart, indicating further upward momentum in the near term. The price has also found support around the 21-day EMA and has moved above the previous swing highs. Additionally, both the MACD and RSI have shown positive crossovers, which further support the bullish trend. Based on this structure, we expect continued upward movement in Bajaj Finance over the short to medium term. Therefore, traders are advised to buy around the 7,400 level, targeting an upside of 7,850, with a strict stop loss at 7,090.
“The stock has given a breakout above 7,388 and managing to hold well above the same. The stock is steadily heading towards potential targets of 7,550 and 7,600 levels. A strict stoploss is looking to be around 7,275 mark and momentum indicators are showing potential upside in the stock from current levels,” added Riyank Arora, Technical Analyst, Mehta Equities Ltd.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
