Buy Bajaj Finance: target of Rs 9097: Sharekhan

The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

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26 Aug, 2025 12:21

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Sharekhan's research report on Bajaj Finance

During Q3FY2022, the company reported robust growth in its consolidated AUM of 26% y-o-y and 9% q-o-q to Rs. 1,813 billion. New loans booked increased by ~23% y-o-y to 7.4 million. The company’s customer franchise increased by 2.6 million q-o-q to 55.4 million in Q3FY2022. Bajaj Finance’s asset quality has been holding up and its GNPA ratio was 2.5% in Q2FY2022, improved by 50 bps q-o-q. Despite improvement in asset quality, the company increased management’s overlay to Rs. 832 crore in Q2FY2022 from Rs. Rs. 483 crore as a prudent measure to protect from the potential third wave. The company is one of the early movers from ‘Physical’ to ‘Phygital’ and its digital transformation process is at the late stages of completion.

Outlook

We reiterate our Buy rating on Bajaj Finance with a PT of Rs. 9,097. At the CMP, the company trades at 8.9x its FY2023E P/BV.

More Info

At 13:24 hrs Bajaj Finance was quoting at Rs 7,646.85, down Rs 92.65, or 1.20 percent.

It has touched an intraday high of Rs 7,786.35 and an intraday low of Rs 7,585.00.

It was trading with volumes of 33,755 shares, compared to its thirty day average of 58,342 shares, a decrease of -42.14 percent.

In the previous trading session, the share closed up 0.93 percent or Rs 70.95 at Rs 7,739.50.

The share touched its 52-week high Rs 8,020.20 and 52-week low Rs 4,361.60 on 18 October, 2021 and 19 April, 2021, respectively.

Currently, it is trading 4.66 percent below its 52-week high and 75.32 percent above its 52-week low.

Market capitalisation stands at Rs 461,559.54 crore.For all recommendations report, click here

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