Bajaj Finance, Bajaj Finserv are headed higher. Time to buy and hold

Bajaj Finance is heading towards Rs 7000 mark if the support of Rs 5000 is defended aggressively, chart shows

Shares of Bajaj Finserv gained 2.5 per cent in the inra-day trade today, quoting at Rs 10,198-mark, on the BSE. In the past seven trading days, the stock has rallied around 18 per cent after the government proposed to increase foreign direct investment in the insurance sector to 74 per cent, a move aimed at attracting overseas players. The stock is trading close to its all-time high level of Rs 10,297, hit on December 18, 2019.

"While near-term challenges remain, sound fundamentals of Bajaj Finserv's business franchise are likely to sustain. BFL is well capitalized with a conservative leverage, and