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Last Updated : Oct 23, 2019 02:57 PM IST | Source: Moneycontrol.com

Buy Bajaj Finance target of Rs 4400: Sharekhan

Sharekhan is bullish on Bajaj Finance has recommended buy rating on the stock with a target price of Rs 4400 in its research report dated October 22, 2019.

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Sharekhan's research report on Bajaj Finance


Bajaj Finance (BFL) posted steady Q2FY20 with NII up by 48.3% YOY (we expected growth of 41.5% YOY) while the Net profit jumped by 63.1% YoY (we expected growth of 40.8% YOY). However, the revised credit cost guidance to ~180 BPS for FY20E (compared to 150 bps last year) is a negative. We have accordingly revised our estimates for FY20E/FY21E.


Outlook


We maintain our Buy rating with a revised price target of Rs 4400.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.



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First Published on Oct 23, 2019 02:57 pm
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