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IIFL, Manappuram, L&T Finance: These NBFCs can fall another 22%; here's why

Among the frontline NBFCs, Bajaj Finance looks interestingly poised, with the stock attempting to form a bottom following a 17 per cent decline since mid January, suggests technical chart.

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Rex Cano Mumbai
Shares of non-banking financial companies (NBFCs) have been on slippery ground off late, following RBI's action against select firms citing non-compliance and regulatory lapses.

However, on Thursday stocks from the NBFC sector were seen displaying a mixed trend. Is the selling done with or will there me further pain ahead? Here's what the charts suggest.

Bajaj Finance
Current Price: Rs 6,390
Upside Potential: 6.4%
Support: Rs 6,330; Rs 6,190; Rs 6,085
Resistance: Rs 6,580

Bajaj Finance has been trading with a negative bias since the breakdown in mid-January, post which the stock has shed 17 per cent in the following period.


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First Published: Mar 07 2024 | 12:23 PM IST

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