Buy Bajaj Finance, target price Rs 8190: ICICI Direct

ICICI Direct has buy call on Bajaj Finance with a target price of Rs 8190.

The current market price of Bajaj Finance Ltd. is Rs 7817.5. 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 471835.74 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
Cusp of breaking above last 3 weeks range as stock rebounding taking support at the 20 days EMA

Promoter/FII Holdings
Promoters held 56 per cent stake in the company as of June 30, 2021, while FIIs held 24.2 per cent, DIIs 9.3 per cent and public and others 10.4 per cent.