Buy Bajaj Finserv, target price Rs 10,250: IIFL

IIFL has buy call on Bajaj Finserv with a target price of Rs 10,250. The current market price of Bajaj Finserv is Rs 9736.6. Time period given by analyst is Intra Day when Bajaj Finserv price can reach defined target.

Bajaj Finserv Ltd., incorporated in the year 2007, is a Large Cap company (having a market cap of Rs 156061.32 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
Stock has given a double bottom breakout on the daily chart.

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.