Sharekhan's research report on Bajaj Finance
Bajaj Finance Ltd (BAF) reported strong business momentum in Q1FY25 and continued to beat its guidance (of 26-28%) for AUM growth. AUM grew by 31% y-o-y/ 7% q-o-q to Rs. 3,54,100 crore. New loans booked grew by 10% y-o-y/ 39% q-o-q to 10.97 million. BAF has resumed sanction and disbursal of loans under ‘eCOM’ and ‘Insta EMI Card’ after the RBI lifted restrictions in the beginning of May.
Outlook
We reiterate a Buy on the stock with an unchanged PT of Rs. 9,300 driven by sector leading growth and profitability. At CMP, the stock trades at 5.3x/4.4x FY2025E/FY2026E BV estimates.
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