Buy Bajaj Finserv target of Rs 11000: Sharekhan
Sharekhan is bullish on Bajaj Finserv has recommended buy rating on the stock with a target price of Rs 11000 in its research report dated January 30, 2020.
Jan 31, 2020 / 10:02 AM IST
Sharekhan's research report on Bajaj Finserv
Bajaj Finserv (BFS; Holding company) posted healthy Q3FY2020 results primarily due to strong performance of its lending subsidiary Bajaj Finance Limited (BFL). Bajaj Allianz General Insurance (BAGIC; general insurance) had a weak quarter with rise in combined ratio (COR, less is better) due to losses from the crop segment and higher claim ratio from the motor OD segment. Overall, positive performance in BALIC, healthy operating matrix in BAGIC and consistency of Bajaj Finance makes it an attractive franchise.
We maintain our Buy rating on the stock with a revised SOTP-based price target (PT) of Rs. 11,000.
For all recommendations report, click here
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