Moneycontrol
Apr 20, 2017 04:55 PM IST | Source: Moneycontrol.com

Buy Bajaj Finserv; target of Rs 4900: ICICI Direct

ICICI Direct is bullish on Bajaj Finserv has recommended buy rating on the stock with a target price of Rs 4900 in its research report dated April 18, 2017.

Buy Bajaj Finserv; target of Rs 4900: ICICI Direct

ICICI Direct's report on Bajaj Finserv


Bajaj Finserv is a financial conglomerate that is engaged in life insurance, general insurance, consumer finance and other financial products. The company has 74% stake in two insurance companies viz. Bajaj Allianz Life Insurance Company (BALIC) and Bajaj Allianz General Insurance Company (BAGIC) and 57.3% stake in Bajaj Finance.


Outlook


Consequently, based on SOTP valuation, we revise our target price to Rs 4900/share (Rs 3620 earlier) for Bajaj Finserv, which implies a multiple of 19.8x on FY19E consolidated earnings. Consequently, we maintain our BUY rating on the stock.


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