Bajaj Finance to Shriram Finance, Jefferies top NBFC picks with upto 22% upside

Jefferies report highlights mixed trends in Q1FY26 for the NBFC sector, with moderating growth and rising stress across segments. Gold loan financiers see strong profit growth, while auto and affordable housing lenders face pressure. Despite near-term challenges, Jefferies continues to prefer Bajaj Finance, Cholamandalam Investment & Finance, Shriram Finance, and Muthoot Finance as top picks.