Sharekhan is bullish on Bajaj Holdings and Investment has recommended buy rating on the stock with a target price of Rs 3558 in its research report dated November 27, 2018.
Sharekhan's research report on Bajaj Holdings and Investment
BHIL reported muted results for Q2FY2019 on account of weak results by associate companies. Amongst the associates; Bajaj Finserv posted modest numbers overall. Lending business performance was satisfactory, profitability of the insurance subsidiaries weakened. Bajaj Auto too reported weak results for Q2FY19; earnings are expected to decline 9% in2HFY19 given the elevated cost pressures due to higher sales & promotion expenses.
We maintain our Buy rating on Bajaj Holdings and Investment Limited (BHIL) with a revised PT of Rs. 3,558 (earlier PT of Rs 3,844).
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