Sharekhan is bullish on Bajaj Finance has recommended buy rating on the stock with a target price of Rs 2450 in its research report dated October 23, 2018.
Sharekhan's research report on Bajaj Finance
Bajaj Finance Limited (BFL) posted healthy operating performance with net interest income (NII; calc) growing by 37.6% y-o-y to Rs. 2,617 crore in Q2FY2019, even as non-interest income jumped by ~3x to Rs. 48 crore. Opex to NII came in strong, aided by continued focus on expanding the company’s fee revenue pool along with better opex management. As a result of the same, opex-to-income ratio (C/I) for the quarter declined to 34.8% from 40.6% y-o-y.
We maintain our Buy rating on the stock with a revised price target (PT) of Rs. 2,450.
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