Hold Bajaj Finserv; target of Rs 1850: ICICI Direct

ICICI Direct's research report on Bajaj Finserv

Bajaj Finserv (Finserv) is a financial conglomerate with a holding in the financing business (Bajaj Finance), life insurance (Bajaj Life Insurance) and general insurance (Bajaj General Insurance) business. Consistent, faster business growth and profitability remain in focus.

Outlook

We downgrade the stock from BUY to HOLD given recent run up in the stock. Pick-up in lending AUM and anticipated healthy growth in insurance segment coupled with focus on digitisation remain positive. We value Finserv at ~33x FY24E EPS and maintain our target price at Rs 1850.

For all recommendations report, click here