Buy Bajaj Finserv, target price Rs 10,050: Kotak Securities

Kotak Securities has buy call on Bajaj Finserv with a target price of Rs 10050. The current market price of Bajaj Finserv Ltd. is Rs 9832.75. Time period given by analyst is Intra Day when Bajaj Finserv Ltd. price can reach defined target.

Bajaj Finserv Ltd., incorporated in the year 2007, is a Large Cap company (having a market cap of Rs 156052.56 Crore) operating in NBFC sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 15960.72 Crore, up 6.04 % from last quarter Total Income of Rs 15051.59 Crore and up 9.61 % from last year same quarter Total Income of Rs 14560.74 Crore. Company reported net profit after tax of Rs 2081.87 Crore in latest quarter.


Investment Rationale
The stock is trading in an Ascending Triangle chart pattern along with strong candlestick formations, which specifies a breakout in the near term.

Promoter/FII Holdings
Promoters held 60.8 per cent stake in the company as of June 30, 2020, while FIIs held 8 per cent, DIIs 6.3 per cent and public and others 24.9 per cent.