Hold Bajaj Finserv, target price Rs 1850: ICICI Direct

ICICI Direct has hold call on Bajaj Finserv with a target price of Rs 1850. The current market price of Bajaj Finserv is Rs 1793.8. Time period given by analyst is one year 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 56716.59 Crore) operating in NBFC sector.

Bajaj Finserv Ltd. key Products/Revenue Segments include Dividend, Interest, Power Generation, Income From Sale Of Share & Securities, Rental Income for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 15888.38 Crore, down -15.76 % from last quarter Total Income of Rs 18861.67 Crore and up 13.90 % from last year same quarter Total Income of Rs 13949.45 Crore. Company reported net profit after tax of Rs 2578.02 Crore in latest quarter.

Investment Rationale
Pick-up in lending AUM and anticipated healthy growth in insurance segment coupled with focus on digitisation remain positives.

Promoter/FII Holdings
Promoters held 60.8 per cent stake in the company as of 30-Jun-2022, while FIIs owned 8.37 per cent, DIIs 6.71 per cent.