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Last Updated : Feb 13, 2020 12:55 PM IST | Source: Moneycontrol.com

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.

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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.


Outlook


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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First Published on Jan 31, 2020 10:02 am
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