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Buy Bajaj Finance; target of Rs 9500: ICICI Direct

ICICI Direct is bullish on Bajaj Finance has recommended buy rating on the stock with a target price of Rs 9500 in its research report dated April 27, 2022.

April 27, 2022 / 05:07 PM IST
 
 
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ICICI Direct's research report on Bajaj Finance


Bajaj Finance is a dominant player in the consumer finance space while it has also made a foray into various lending segments wherein housing has grown to a significant size. Consumer business forms ~33% of overall consolidated AUM • Bajaj Finance maintained strong operating metrics over various credit and rate cycles leading to >18% RoE and >3.5% RoA consistently.


Outlook


The core business has got potential and is well on track to get transformed into an adaptable new age fin-tech. No plans to convert to a bank on immediate basis. Maintain TP of Rs 9500 by valuing at ~8.4x FY24E ABV.


For all recommendations report, click here

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IDBI Capital
first published: Apr 27, 2022 05:07 pm
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ISO 27001 - BSI Assurance Mark