Bajaj Finance rises as HDFC Securities forecasts strong AUM growth, despite short-term credit cost pressures in FY25.

• HDFC sees 24% AUM CAGR through FY29, driven by customer growth and diversified product offerings.
• Profitability hit by higher credit costs, but firm remains well-positioned for long-term growth and margin strength.
• Delinquencies expected to improve by Q2 FY26 with tighter credit filters; stock gains 39% YTD.