Buy Bajaj Finance, target price Rs 7620: Kotak Securities

Kotak Securities Limited has buy call on Bajaj Finance with a target price of Rs 7620. The current market price of Bajaj Finance is Rs 7410.9.

Time period given by analyst is Intra Day when Bajaj Finance Ltd. price can reach defined target.

Bajaj Finance Ltd., incorporated in the year 1987, is a Large Cap company (having a market cap of Rs 447353.95 Crore) operating in NBFC sector.


Bajaj Finance Ltd. key Products/Revenue Segments include Interest, Fees & Commission Income, Income From Sale Of Share & Securities, Other Operating Revenue and Service Charges for the year ending 31-Mar-2021.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 6743.01 Crore, down -1.63 % from last quarter Total Income of Rs 6854.94 Crore and up 1.40 % from last year same quarter Total Income of Rs 6649.74 Crore. Company reported net profit after tax of Rs 1002.44 Crore in latest quarter.

Investment Rationale
In consolidation forming Flag pattern, but hammer candlestick shows reversal for bullish continuation.

Promoter/FII Holdings
Promoters held 56.1 per cent stake in the company as of March 31, 2021, while FIIs held 24.2 per cent, DIIs 9.1 per cent and public and others 10.6 per cent.