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What should investors do with Bajaj Finance stock post Q3: buy, sell or hold?

Profit during the quarter stood at Rs 1,614 crore up from Rs 1,060 crore in same period last year.

January 30, 2020 / 12:03 PM IST
10| Bajaj Finance Limited : Rs 2.87 trillion

10| Bajaj Finance Limited : Rs 2.87 trillion

 
 
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Bajaj Finance share price touched its 52-week high of Rs 4,467.50 in early trade on January 30 after the company reported a healthy 52 percent year-on-year growth in profit for October-December quarter driven by strong NII and AUM with stable asset quality.

Profit during the quarter stood at Rs 1,614 crore up from Rs 1,060 crore in the same period last year.

Net interest income rose a whopping 42 percent YoY to Rs 4,537 crore in the quarter ended December 2019, with 13 percent growth in new loans, Bajaj Finance said in its BSE filing.

Also Read - Bajaj Finance beats estimates with 52% growth in Q3 profit, AUMs grow 35%

Morgan Stanley | Rating: Equal-weight | Target: Rs 4,250 per share

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The profit was 4 percent below estimates, driven by higher provisions. The credit costs were higher even after excluding provisions for loans against shares portfolio. The pre-provision operating profit was ahead of estimate on higher revenue.

HSBC | Rating: Buy | Target: Rs 5,100 per share

The company reported yet another strong quarter amidst fears of slowdown. The one-off lumpy accounts led to higher slippages & credit costs.

The company is a preferred pick amongst NBFCs as we expect strong execution to continue.

Citi | Rating: Neutral | Target: Raised to Rs 4,800 from Rs 4,400 per share

The research house expects the company to deliver 33%/43% AUM/net profit CAGR over FY19-22 and raise FY20E/21 profit estimates by 2-3% to factor in higher NIM.

The company expects credit cost to remain at 180 bps for FY20 (ex-one off).

Credit Suisse | Rating: Neutral | Target: Raised to Rs 4,050 from Rs 3,850 per share

The growth momentum continues but credit costs have inched up. The increasing share of mortgages & expanding reach should support growth.

At 09:20 hrs, Bajaj Finance was quoting at Rs 4,440, up Rs 18.25, or 0.41 percent on the BSE.

Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Moneycontrol News
first published: Jan 30, 2020 09:41 am

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