Moneycontrol
Last Updated : Oct 24, 2018 04:00 PM IST | Source: Moneycontrol.com

Buy Bajaj Finance; target of Rs 2450: Sharekhan

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.

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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.


Outlook


We maintain our Buy rating on the stock with a revised price target (PT) of Rs. 2,450.


For all recommendations report, click here


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First Published on Oct 24, 2018 04:00 pm
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