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Buy Bajaj Finance; target of Rs 8631: Geojit

Geojit is bullish on Bajaj Finance has recommended buy rating on the stock with a target price of Rs 8631 in its research report dated October 27, 2023.

October 30, 2023 / 21:23 IST
Buy
     
     
    26 Aug, 2025 12:21
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    Geojit's research report on Bajaj Finance

    Bajaj Finance Ltd (BFL) is a leading non-banking financial company (NBFC) in India. It lends to retail, SME and commercial customers, and accepts public and corporate deposits. In Q2FY24, Gross interest income grew by 34.2% YoY and interest expenses grew by 52.7% YoY due to high cost of borrowing. Resultantly, Net interest income (NII) grew 26.3% YoY to Rs 8,841cr this quarter. PAT increased 27.7% YoY, despite 46.7% YoY rise in provisions. Asset quality remained strong in Q2FY24, with 34.3% YoY growth in the loan book and improvement in non-performing asset (NPA) levels. BFL is expected to capture a robust industry share in the near term driven by enlarged customer base, diversified product portfolio and strong pan-India presence.

    Outlook

    Stable asset quality and increase in assets under management (AUM) should boost growth in the upcoming quarters. Therefore, we reiterate our BUY rating on the stock with a revised target price of Rs. 8,631 based on 6.1x FY25E BVPS.

    For all recommendations report, click here

    Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Bajaj Finance - 28 - 10-2023 - geo

    Broker Research
    first published: Oct 30, 2023 09:21 pm

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