Bajaj Finance, Bajaj Finserv can fall another 10% from the current levels

Both the stocks have broken major supports and a further downside seems inevitable

Bajaj twins - Bajaj Finance and Bajaj Finserv - have been battered in the last few trading sessions. The 8 per cent fall in the last three days alone came on the back of a report by global research and broking house CLSA, which initiated a 'Sell' rating on Bajaj Finance with a target price of Rs 6,000 per share. 

CLSA said the stock was likely to “undershoot expectations in the medium –term”. The report cited “a large base, decline in customer repeat purchase ratio and rising competitive intensity in core segments posing risks to its medium-term loan growth.”