Bajaj Finance Q1 shows good form, but weakening macro calls for caution, buy only on dips
July 26, 2019 / 03:13 PM IST
Bajaj Finance down 63 percent from its 52-week high of Rs 4923.20. On May 26, the share price closed at Rs 1829.00
PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook
With rising concerns of an economic slowdown, Bajaj Finance’s stock has fallen almost 24 percent from its 52-week high level. Despite this correction, it is still one of the best performing scrips on the Nifty index year to date (YTD).
While Nifty is up by only 1 percent, Bajaj Finance (BFL) is up by 13 percent YTD. In fact, it has been one of the biggest wealth creating stocks generating 67 percent compounded annual returns in the past 11 years.