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.
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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