Buy Bajaj Finserv target of Rs 5322: Sharekhan
Sharekhan is is bullish on Bajaj Finserv has recommended buy rating on the stock with a target price of Rs 5322 in its research report dated May 22, 2020.
May 26, 2020 / 11:51 AM IST
Sharekhan's research report on Bajaj Finserv
Bajaj Finserv posted weak Q4FY2020 results, primarily due to the lockdown (that impacted revenues) and high provisions (COVID-19 and MTM impact) that hit profitability of its subsidiaries. Lending subsidiary Bajaj Finance Ltd (BFL) reported mixed Q4FY20 numbers, with a spike in provisions (mainly due to COVID-19 related provisions and one-offs), which led to PAT lagging expectations. Despite near-term headwinds, sound fundamentals of business franchises are likely to sustain in present times as well.
We maintain our Buy recommendation on Bajaj Finserv with a revised SOTP-based price target of Rs. 5,322.
For all recommendations report, click here
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