Buy Bajaj Finserv, target price Rs 19000: IIFL

IIFL has buy call on Bajaj Finserv with a target price of Rs 19000. The current market price of Bajaj Finserv Ltd. is Rs 17983. 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 286262.80 Crore) operating in NBFC sector.

Bajaj Finserv Ltd. key Products/Revenue Segments include Dividend, Interest, Power Generation, Income From Sale Of Share & Securities, Renewable Energy Certificates and Rental Income for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 18008.22 Crore, up 29.10 % from last quarter Total Income of Rs 13949.45 Crore and up 19.64 % from last year same quarter Total Income of Rs 15051.59 Crore. Company reported net profit after tax of Rs 1997.97 Crore in latest quarter.

Investment Rationale
Falling trendline breakout with price breaching the previous swing high.

Promoter/FII Holdings
Promoters held 60.8 per cent stake in the company as of 30-Sep-2021, while FIIs owned 9.98 per cent, DIIs 5.58 per cent.