{"id":301661,"date":"2026-10-12T11:54:15","date_gmt":"2026-10-12T06:24:15","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=301661"},"modified":"2026-10-12T11:54:15","modified_gmt":"2026-10-12T06:24:15","slug":"merchant-banking-and-financial-group-stocks-long-term-growth-picks","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/merchant-banking-and-financial-group-stocks-long-term-growth-picks\/","title":{"rendered":"3 Merchant Banking and Financial Group Stocks With a Strong Future Roadmap: Bajaj Finserv, AK Capital Services and CARE Ratings"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Bajaj Finserv Rs 1,734.70, P\/E 13.26. AK Capital Rs 1,751.70, P\/E 9.66. CARE Ratings Rs 1,544.20, P\/E 25.70. Closing prices of 9 Oct 2026.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Merchant banking and financial group stocks with the clearest long-term roadmaps today include Bajaj Finserv in lending and insurance group, AK Capital in merchant banking and lending business and CARE Ratings in credit rating franchise. FY26 revenue growth was 13.2% at Bajaj Finserv, 18.4% at AK Capital and 16.5% at CARE Ratings. P\/E stands at 13.26 for Bajaj Finserv (industry 17.72), 9.66 for AK Capital (industry 17.72) and 25.70 for CARE Ratings (industry 33.32). Demand cycles, input costs and valuation decide how much of that growth the market keeps paying for, so each company&#8217;s risks need equal attention.<\/p>\n<\/p><\/div>\n<p>Merchant banking and financial group stocks give investors exposure to lending, insurance, fund-raising advice and credit ratings. Fee income, loan growth and bond market activity decide how much of that demand turns into profit.<\/p>\n<p>This list covers three merchant banking and financial group stocks: Bajaj Finserv for lending and insurance group, AK Capital Services for merchant banking and lending business and CARE Ratings for credit rating franchise. Every figure comes from the latest reported financials and the 9 October 2026 market close. Companies without complete current figures were left out.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=merchant-banking-and-financial-group-stocks-long-term-growth-picks\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/merchant-banking-and-financial-group-stocks-long-term-growth-picks\/#What_Are_Merchant_Banking_and_Financial_Group_Stocks\" title=\"What Are Merchant Banking and Financial Group Stocks?\">What Are Merchant Banking and Financial Group Stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/merchant-banking-and-financial-group-stocks-long-term-growth-picks\/#Merchant_Banking_and_Financial_Group_Stocks_at_a_Glance\" title=\"Merchant Banking and Financial Group Stocks at a Glance\">Merchant Banking and Financial Group Stocks at a Glance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/merchant-banking-and-financial-group-stocks-long-term-growth-picks\/#Why_Do_Merchant_Banking_and_Financial_Group_Stocks_Have_a_Strong_Roadmap_in_India\" title=\"Why Do Merchant Banking and Financial Group Stocks Have a Strong Roadmap in India?\">Why Do Merchant Banking and Financial Group Stocks Have a Strong Roadmap in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/merchant-banking-and-financial-group-stocks-long-term-growth-picks\/#Bajaj_Finserv_Lending_and_Insurance_Arms_Anchor_the_Roadmap\" title=\"Bajaj Finserv: Lending and Insurance Arms Anchor the Roadmap\">Bajaj Finserv: Lending and Insurance Arms Anchor the Roadmap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/merchant-banking-and-financial-group-stocks-long-term-growth-picks\/#AK_Capital_Services_Merchant_Banking_and_Lending_Anchor_the_Roadmap\" title=\"AK Capital Services: Merchant Banking and Lending Anchor the Roadmap\">AK Capital Services: Merchant Banking and Lending Anchor the Roadmap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/merchant-banking-and-financial-group-stocks-long-term-growth-picks\/#CARE_Ratings_Rating_Fees_Anchor_the_Roadmap\" title=\"CARE Ratings: Rating Fees Anchor the Roadmap\">CARE Ratings: Rating Fees Anchor the Roadmap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/merchant-banking-and-financial-group-stocks-long-term-growth-picks\/#Best_Merchant_Banking_and_Financial_Group_Stocks_in_India_Bajaj_Finserv_vs_AK_Capital_vs_CARE_Ratings_on_Key_Financials\" title=\"Best Merchant Banking and Financial Group Stocks in India: Bajaj Finserv vs AK Capital vs CARE Ratings on Key Financials\">Best Merchant Banking and Financial Group Stocks in India: Bajaj Finserv vs AK Capital vs CARE Ratings on Key Financials<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/merchant-banking-and-financial-group-stocks-long-term-growth-picks\/#How_to_Evaluate_Merchant_Banking_and_Financial_Group_Stocks_to_Buy_Before_You_Invest\" title=\"How to Evaluate Merchant Banking and Financial Group Stocks to Buy Before You Invest\">How to Evaluate Merchant Banking and Financial Group Stocks to Buy Before You Invest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/merchant-banking-and-financial-group-stocks-long-term-growth-picks\/#Risks_to_Consider_Before_Investing_in_Merchant_Banking_and_Financial_Group_Stocks\" title=\"Risks to Consider Before Investing in Merchant Banking and Financial Group Stocks\">Risks to Consider Before Investing in Merchant Banking and Financial Group Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/merchant-banking-and-financial-group-stocks-long-term-growth-picks\/#Final_Take_Which_Stock_Has_the_Strongest_Roadmap\" title=\"Final Take: Which Stock Has the Strongest Roadmap?\">Final Take: Which Stock Has the Strongest Roadmap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/merchant-banking-and-financial-group-stocks-long-term-growth-picks\/#FAQs_on_Merchant_Banking_and_Financial_Group_Stocks\" title=\"FAQs on Merchant Banking and Financial Group Stocks\">FAQs on Merchant Banking and Financial Group Stocks<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/merchant-banking-and-financial-group-stocks-long-term-growth-picks\/#Which_are_the_best_merchant_banking_and_financial_group_stocks_in_India_with_a_strong_roadmap\" title=\"Which are the best merchant banking and financial group stocks in India with a strong roadmap?\">Which are the best merchant banking and financial group stocks in India with a strong roadmap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/merchant-banking-and-financial-group-stocks-long-term-growth-picks\/#Is_Bajaj_Finserv_a_good_stock_to_buy_now\" title=\"Is Bajaj Finserv a good stock to buy now?\">Is Bajaj Finserv a good stock to buy now?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/merchant-banking-and-financial-group-stocks-long-term-growth-picks\/#What_is_the_PE_ratio_of_Bajaj_Finserv_AK_Capital_and_CARE_Ratings\" title=\"What is the P\/E ratio of Bajaj Finserv, AK Capital and CARE Ratings?\">What is the P\/E ratio of Bajaj Finserv, AK Capital and CARE Ratings?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/merchant-banking-and-financial-group-stocks-long-term-growth-picks\/#Which_of_these_merchant_banking_and_financial_group_stocks_has_the_highest_return_on_equity\" title=\"Which of these merchant banking and financial group stocks has the highest return on equity?\">Which of these merchant banking and financial group stocks has the highest return on equity?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/merchant-banking-and-financial-group-stocks-long-term-growth-picks\/#What_are_the_risks_of_investing_in_merchant_banking_and_financial_group_stocks\" title=\"What are the risks of investing in merchant banking and financial group stocks?\">What are the risks of investing in merchant banking and financial group stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/merchant-banking-and-financial-group-stocks-long-term-growth-picks\/#How_did_Bajaj_Finserv_AK_Capital_and_CARE_Ratings_perform_in_Q1_FY27\" title=\"How did Bajaj Finserv, AK Capital and CARE Ratings perform in Q1 FY27?\">How did Bajaj Finserv, AK Capital and CARE Ratings perform in Q1 FY27?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/merchant-banking-and-financial-group-stocks-long-term-growth-picks\/#Do_merchant_banking_and_financial_group_stocks_pay_dividends\" title=\"Do merchant banking and financial group stocks pay dividends?\">Do merchant banking and financial group stocks pay dividends?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/merchant-banking-and-financial-group-stocks-long-term-growth-picks\/#How_can_I_invest_in_merchant_banking_and_financial_group_stocks_in_India\" title=\"How can I invest in merchant banking and financial group stocks in India?\">How can I invest in merchant banking and financial group stocks in India?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Merchant_Banking_and_Financial_Group_Stocks\"><\/span><strong>What Are Merchant Banking and Financial Group Stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Merchant banking and financial group stocks are shares of companies that earn income from lending, insurance, fund-raising advice and credit ratings. Results depend on fee income, loan growth and bond market activity, so fee income and balance sheet strength separate the stronger names.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Merchant_Banking_and_Financial_Group_Stocks_at_a_Glance\"><\/span><strong>Merchant Banking and Financial Group Stocks at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table compares size, valuation, return on equity and debt for the three merchant banking and financial group stocks as of the 9 Oct 2026 close.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">CMP (Rs)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Market Cap (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Industry P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">ROE<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Debt to Equity<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/bajajfinsv\/bajaj-finserv-ltd-share-price-today\">Bajaj Finserv<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,734.70<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">273,600<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">13.26<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.72<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">12.58%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">5.52<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/akcapit\/ak-capital-services-ltd-share-price-today\">AK Capital Services<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,751.70<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,143<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">9.66<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.72<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">10.55%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2.95<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/carerating\/care-ratings-ltd-share-price-today\">CARE Ratings<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,544.20<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4,631<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">25.70<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">33.32<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">18.36%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.03<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Among fee-based financial services stocks, all three trade at a discount to their industry P\/E multiples.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Do_Merchant_Banking_and_Financial_Group_Stocks_Have_a_Strong_Roadmap_in_India\"><\/span><strong>Why Do Merchant Banking and Financial Group Stocks Have a Strong Roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Merchant banking and financial group stocks have a strong roadmap in India because companies keep raising money through bonds and loans, and households keep buying insurance and credit. Three drivers stand out.<\/p>\n<ul>\n<li><strong>Debt market growth:<\/strong> More companies raise funds through bonds, which lifts demand for advice and ratings.<\/li>\n<li><strong>Insurance penetration:<\/strong> Low insurance cover leaves a long runway for group businesses.<\/li>\n<li><strong>Fee income:<\/strong> Advisory and rating fees do not need a balance sheet to grow.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Bajaj_Finserv_Lending_and_Insurance_Arms_Anchor_the_Roadmap\"><\/span><strong>Bajaj Finserv: Lending and Insurance Arms Anchor the Roadmap<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bajaj Finserv&#8217;s roadmap rests on a financial holding company with stakes in consumer and SME lending, life insurance and general insurance, with its lending and insurance arms supporting earnings.<\/p>\n<p>Revenue grew from Rs 68,438.98 crore in FY22 to Rs 150,530.38 crore in FY26, a 119.9% rise, and FY26 revenue was 13.2% higher than FY25. FY26 net profit rose 12.0% to Rs 19,669.47 crore. Over four years, net profit rose from Rs 8,313.53 crore in FY22 to Rs 19,669.47 crore. In Q1 FY27, revenue grew 19.1% to Rs 42,036.90 crore, and net profit rose 18.2% to Rs 6,296.67 crore.<\/p>\n<p>Debt to equity is 5.52 and return on equity is 12.58%. Bajaj Finserv paid a dividend of Rs 1.5 per share for FY26, a yield of 0.09%. At a P\/E of 13.26 against an industry P\/E of 17.72, the stock trades below its industry multiple.<\/p>\n<p>What to watch: The P\/E of 13.26 against an industry P\/E of 17.72 leaves valuation less stretched, so the next quarters&#8217; growth is the figure to follow.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"AK_Capital_Services_Merchant_Banking_and_Lending_Anchor_the_Roadmap\"><\/span><strong>AK Capital Services: Merchant Banking and Lending Anchor the Roadmap<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>AK Capital&#8217;s roadmap rests on merchant banking, debt capital market services, broking and lending, with several fee and interest income lines supporting earnings.<\/p>\n<p>Revenue grew from Rs 322.89 crore in FY22 to Rs 573.02 crore in FY26, a 77.5% rise, and FY26 revenue was 18.4% higher than FY25. FY26 net profit rose 30.9% to Rs 114.04 crore. Over four years, net profit rose from Rs 83.01 crore in FY22 to Rs 114.04 crore. In Q1 FY27, revenue grew 4.2% to Rs 140.27 crore, and net profit rose 18.2% to Rs 28.27 crore.<\/p>\n<p>Debt to equity is 2.95 and return on equity is 10.55%. AK Capital paid a dividend of Rs 60 per share for FY26, a yield of 3.46%. At a P\/E of 9.66 against an industry P\/E of 17.72, the stock trades below its industry multiple.<\/p>\n<p>What to watch: The P\/E of 9.66 against an industry P\/E of 17.72 leaves valuation less stretched, so the next quarters&#8217; growth is the figure to follow.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"CARE_Ratings_Rating_Fees_Anchor_the_Roadmap\"><\/span><strong>CARE Ratings: Rating Fees Anchor the Roadmap<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>CARE Ratings&#8217; roadmap rests on a credit rating agency that rates debt instruments and provides analytical services to borrowers and lenders, with rating fees linked to debt raised by companies supporting earnings.<\/p>\n<p>Revenue grew from Rs 274.82 crore in FY22 to Rs 527.89 crore in FY26, a 92.1% rise, and FY26 revenue was 16.5% higher than FY25. FY26 net profit rose 24.1% to Rs 173.70 crore. Over four years, net profit rose from Rs 76.83 crore in FY22 to Rs 173.70 crore. In Q1 FY27, revenue grew 17.5% to Rs 126.48 crore, and net profit rose 24.5% to Rs 32.99 crore. Operating margin was 53.32% in FY26 and 44.26% in Q1 FY27 against 44.12% a year earlier.<\/p>\n<p>Debt to equity is 0.03 and return on equity is 18.36%. FY26 operating cash flow was Rs 147.57 crore against capital expenditure of Rs 8.30 crore. CARE Ratings paid a dividend of Rs 22 per share for FY26, a yield of 1.43%. At a P\/E of 25.70 against an industry P\/E of 33.32, the stock trades below its industry multiple.<\/p>\n<p>What to watch: Q1 FY27 operating margin was 44.26% against 53.32% for FY26, so margin stability is the figure to follow as volumes grow.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Best_Merchant_Banking_and_Financial_Group_Stocks_in_India_Bajaj_Finserv_vs_AK_Capital_vs_CARE_Ratings_on_Key_Financials\"><\/span><strong>Best Merchant Banking and Financial Group Stocks in India: Bajaj Finserv vs AK Capital vs CARE Ratings on Key Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the best merchant banking and financial group stocks in India, Bajaj Finserv leads on Q1 FY27 revenue growth; AK Capital leads on FY26 revenue growth and FY26 net profit growth; CARE Ratings leads on Q1 FY27 net profit growth and return on equity. The table puts the numbers side by side.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Metric<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Bajaj Finserv<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">AK Capital<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">CARE Ratings<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 revenue (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">150,530.38<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">573.02<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">527.89<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 revenue growth<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">13.2%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">18.4%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">16.5%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 net profit (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">19,669.47<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">114.04<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">173.70<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 net profit growth<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">12.0%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">30.9%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">24.1%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Q1 FY27 revenue growth (YoY)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">19.1%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4.2%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.5%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Q1 FY27 net profit growth (YoY)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">18.2%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">18.2%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">24.5%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Return on equity<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">12.58%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">10.55%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">18.36%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">P\/E ratio<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">13.26<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">9.66<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">25.70<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Debt to equity<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">5.52<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2.95<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.03<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Dividend yield<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.09%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">3.46%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1.43%<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Financial group earnings follow fee income, loan growth and bond market activity, so full-year numbers and quarterly trends together give a better view.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Evaluate_Merchant_Banking_and_Financial_Group_Stocks_to_Buy_Before_You_Invest\"><\/span><strong>How to Evaluate Merchant Banking and Financial Group Stocks to Buy Before You Invest<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A short checklist keeps the research consistent when you screen merchant banking and financial group stocks and shortlist merchant banking and financial group stocks to buy.<\/p>\n<ol>\n<li>Compare each stock&#8217;s P\/E with its industry P\/E, which differs by company here.<\/li>\n<li>Check how much income is fee-based and how much depends on the balance sheet.<\/li>\n<li>Check whether revenue growth is turning into profit growth, not only sales.<\/li>\n<li>Read loan growth against funding costs to see how growth is financed.<\/li>\n<li>Watch debt to equity and interest cover before sizing a position.<\/li>\n<li>Spread exposure across companies and business lines instead of one demand cycle.<\/li>\n<\/ol>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Check the Univest Screener for live data on these merchant banking and financial group stocks<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risks_to_Consider_Before_Investing_in_Merchant_Banking_and_Financial_Group_Stocks\"><\/span><strong>Risks to Consider Before Investing in Merchant Banking and Financial Group Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Market activity:<\/strong> Fewer bond issues or public offers can slow fee income.<\/li>\n<li><strong>Regulation:<\/strong> Rules on ratings, insurance and lending can change business models.<\/li>\n<li><strong>Quarterly trends:<\/strong> A single weak quarter can change near-term earnings, so track results every quarter.<\/li>\n<\/ul>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Bajaj Finserv, AK Capital and CARE Ratings live.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Final_Take_Which_Stock_Has_the_Strongest_Roadmap\"><\/span><strong>Final Take: Which Stock Has the Strongest Roadmap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>These three fee-based financial services stocks cover a lending and insurance group, merchant banking and credit ratings. Bajaj Finserv leads on Q1 FY27 revenue growth; AK Capital leads on FY26 revenue growth and FY26 net profit growth; CARE Ratings leads on Q1 FY27 net profit growth and return on equity.<\/p>\n<p>Across merchant banking and financial group stocks, each roadmap still has to turn growth into steady profit, so independent research and position sizing matter. Investors should consult a SEBI-registered advisor before acting on any of the merchant banking and financial group stocks to buy discussed here.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"FAQs_on_Merchant_Banking_and_Financial_Group_Stocks\"><\/span><strong>FAQs on Merchant Banking and Financial Group Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_are_the_best_merchant_banking_and_financial_group_stocks_in_India_with_a_strong_roadmap\"><\/span><strong>Which are the best merchant banking and financial group stocks in India with a strong roadmap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Bajaj Finserv, AK Capital Services and CARE Ratings stand out for their roadmaps in a lending and insurance group, merchant banking and credit ratings. FY26 revenue growth was 13.2% at Bajaj Finserv, 18.4% at AK Capital and 16.5% at CARE Ratings, and return on equity ranges from 10.55% to 18.36%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Bajaj_Finserv_a_good_stock_to_buy_now\"><\/span><strong>Is Bajaj Finserv a good stock to buy now?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Bajaj Finserv has a debt to equity ratio of 5.52, a return on equity of 12.58% and a P\/E of 13.26 against an industry P\/E of 17.72. Valuation, fee income and market activity move results. This article is not investment advice, so consult a SEBI-registered advisor before deciding.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_PE_ratio_of_Bajaj_Finserv_AK_Capital_and_CARE_Ratings\"><\/span><strong>What is the P\/E ratio of Bajaj Finserv, AK Capital and CARE Ratings?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The P\/E ratio is 13.26 for Bajaj Finserv (industry 17.72), 9.66 for AK Capital (industry 17.72) and 25.70 for CARE Ratings (industry 33.32). All of them trade below the industry multiple.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_of_these_merchant_banking_and_financial_group_stocks_has_the_highest_return_on_equity\"><\/span><strong>Which of these merchant banking and financial group stocks has the highest return on equity?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> CARE Ratings has the highest return on equity at 18.36%, followed by Bajaj Finserv at 12.58% and AK Capital Services at 10.55%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_risks_of_investing_in_merchant_banking_and_financial_group_stocks\"><\/span><strong>What are the risks of investing in merchant banking and financial group stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are market activity, regulation and quarterly trends. Fewer bond issues or public offers can slow fee income.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_did_Bajaj_Finserv_AK_Capital_and_CARE_Ratings_perform_in_Q1_FY27\"><\/span><strong>How did Bajaj Finserv, AK Capital and CARE Ratings perform in Q1 FY27?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Bajaj Finserv reported revenue of Rs 42,036.90 crore, up 19.1% year on year, and net profit rose 18.2% to Rs 6,296.67 crore. AK Capital Services reported revenue of Rs 140.27 crore, up 4.2% year on year, and net profit rose 18.2% to Rs 28.27 crore. CARE Ratings reported revenue of Rs 126.48 crore, up 17.5% year on year, and net profit rose 24.5% to Rs 32.99 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Do_merchant_banking_and_financial_group_stocks_pay_dividends\"><\/span><strong>Do merchant banking and financial group stocks pay dividends?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Yes, all three companies pay dividends. The dividend yield is 0.09% for Bajaj Finserv, 3.46% for AK Capital and 1.43% for CARE Ratings, based on dividends declared for FY26.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_can_I_invest_in_merchant_banking_and_financial_group_stocks_in_India\"><\/span><strong>How can I invest in merchant banking and financial group stocks in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> You can buy merchant banking and financial group stocks through a demat and trading account on NSE or BSE after checking each company&#8217;s financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Which are the best merchant banking and financial group stocks in India with a strong roadmap?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Bajaj Finserv, AK Capital Services and CARE Ratings stand out for their roadmaps in a lending and insurance group, merchant banking and credit ratings. FY26 revenue growth was 13.2% at Bajaj Finserv, 18.4% at AK Capital and 16.5% at CARE Ratings, and return on equity ranges from 10.55% to 18.36%.\"}},{\"@type\":\"Question\",\"name\":\"Is Bajaj Finserv a good stock to buy now?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Bajaj Finserv has a debt to equity ratio of 5.52, a return on equity of 12.58% and a P\/E of 13.26 against an industry P\/E of 17.72. Valuation, fee income and market activity move results. This article is not investment advice, so consult a SEBI-registered advisor before deciding.\"}},{\"@type\":\"Question\",\"name\":\"What is the P\/E ratio of Bajaj Finserv, AK Capital and CARE Ratings?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The P\/E ratio is 13.26 for Bajaj Finserv (industry 17.72), 9.66 for AK Capital (industry 17.72) and 25.70 for CARE Ratings (industry 33.32). All of them trade below the industry multiple.\"}},{\"@type\":\"Question\",\"name\":\"Which of these merchant banking and financial group stocks has the highest return on equity?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"CARE Ratings has the highest return on equity at 18.36%, followed by Bajaj Finserv at 12.58% and AK Capital Services at 10.55%.\"}},{\"@type\":\"Question\",\"name\":\"What are the risks of investing in merchant banking and financial group stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The main risks are market activity, regulation and quarterly trends. Fewer bond issues or public offers can slow fee income.\"}},{\"@type\":\"Question\",\"name\":\"How did Bajaj Finserv, AK Capital and CARE Ratings perform in Q1 FY27?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Bajaj Finserv reported revenue of Rs 42,036.90 crore, up 19.1% year on year, and net profit rose 18.2% to Rs 6,296.67 crore. 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Investments in securities are subject to market risk, so consider your risk profile first.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bajaj Finserv, AK Capital Services and CARE Ratings compared on growth, margins, debt and valuation, with the roadmap and risks investors should track.<\/p>\n","protected":false},"author":34,"featured_media":301659,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[10968,7472,7155,11121,11122],"class_list":["post-301661","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-ak-capital-services","tag-bajaj-finserv","tag-care-ratings","tag-merchant-banking-and-financial-group-stocks","tag-merchant-banking-and-financial-group-stocks-to-buy"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["301659"],"rank_math_title":["Merchant Banking and Financial Group Stocks"],"rank_math_description":["Merchant banking and financial group stocks with a strong roadmap: Bajaj Finserv, AK Capital and CARE Ratings compared on growth, margins, valuation and risks."],"rank_math_focus_keyword":["merchant banking and financial group stocks"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/3-merchant-banking-and-financial-group-stocks-with-a-strong-future-roadmap-bajaj.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/301661","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=301661"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/301661\/revisions"}],"predecessor-version":[{"id":301662,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/301661\/revisions\/301662"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/301659"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=301661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=301661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=301661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}