India NBFC & Lending — Bajaj Finance HDFC-Style Compounders
Non-Banking Financial Companies (NBFCs) are India's credit backbone outside the formal banking system. Bajaj Finance, Cholamandalam, Shriram Finance, and microfinance lenders serve the credit-starved middle and lower-middle class. RBI regulation adds governance but limits risk.
Stocks in this theme · India NBFC & lending
13 companies in this theme — showing top 12 by market cap.
| Symbol | Company | Price | Mkt Cap | ROE | P/E |
|---|---|---|---|---|---|
| BAJFINANCE | Bajaj Finance | ₹1,060.25 | ₹6,57,022 Cr | — | — |
| BAJAJFINSV | Bajaj Finserv | ₹1,877.45 | ₹3,00,258 Cr | — | — |
| SHRIRAMFIN | Shriram Finance | ₹1,059 | ₹1,99,141 Cr | — | — |
| CHOLAFIN | Cholamandalam Investment and Finance | ₹1,728.65 | ₹1,47,592 Cr | — | — |
| PFC | Power Finance | ₹412.3 | ₹1,36,014 Cr | — | — |
| MUTHOOTFIN | Muthoot Finance | ₹3,036.15 | ₹1,22,465 Cr | — | — |
| ABCAPITAL | Aditya Birla Capital | ₹400.55 | ₹1,09,501 Cr | — | — |
| RECLTD | REC | ₹360.6 | ₹94,967 Cr | — | — |
| SBICARD | SBI Cards and Payment Services | ₹626.45 | ₹59,652 Cr | — | — |
| M&MFIN | Mahindra & Mahindra Financial Services | ₹378.35 | ₹52,546 Cr | — | — |
| SUNDARMFIN | Sundaram Finance | ₹4,419.7 | ₹49,105 Cr | — | — |
| POONAWALLA | Poonawalla Fincorp | ₹472.35 | ₹41,425 Cr | — | — |
Research Coverage
- Top NBFC compounders ranked by AUM growth and ROE
- Microfinance stress: which lenders are clean?
- Housing finance comparison: HDFC Life vs PNB Housing vs Can Fin
- RBI regulatory risk tracker for NBFCs
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Frequently Asked Questions
What is an NBFC?
Non-Banking Financial Company — a financial institution that offers loans, credit, and other banking services but is not a licensed bank. Regulated by the RBI.
Is Bajaj Finance overvalued?
Bajaj Finance trades at a premium (5–7x book) due to its consistent 25%+ AUM growth, cross-sell franchise, and best-in-class collections — a quality premium.