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.
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.
We maintain our Buy rating with a revised price target of Rs 4400.
For all recommendations report, click here
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