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Buy Bajaj Finserv; target of Rs 10860: Sharekhan

Sharekhan is bullish on Bajaj Finserv has recommended buy rating on the stock with a target price of Rs 10860 in its research report dated January 21, 2021.

February 01, 2021 / 06:35 PM IST
 
 
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Sharekhan's research report on Bajaj Finserv


ajaj Finserv (BFS, holding company) clocked mixed numbers for Q3FY2021, where operational performance marginally beat expectations; however, higher provisions of Bajaj Finance dampened BFS’ PAT. Insurance subsidiaries BALIC and BAGIC performed well, helped by a net positive impact on PAT on account of post-tax MTM gains from BAGIC & BALIC’s investments of Rs. 384 crore. Bajaj Finance is well capitalised with conservative leverage and both BALIC and BAGIC have healthy solvency ratios and strong operating metrics, with structural tailwinds to benefit them for the long term.


Outlook


We maintain a Buy on Bajaj Finserv with a revised SOTP-based price target (PT) of Rs. 10,860.


For all recommendations report, click here


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first published: Feb 1, 2021 06:35 pm

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