Sell Bajaj Finance, target price Rs 5700: Chandan Taparia

Chandan Taparia of Motilal Oswal has sell call on Bajaj Finance with a target price of Rs 5700. The current market price of Bajaj Finance Ltd. is Rs 6000.95. 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 363275.70 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 31-03-2022, the company reported a Consolidated Total Income of Rs 8630.28 Crore, up 1.12 % from last quarter Total Income of Rs 8535.06 Crore and up 25.90 % from last year same quarter Total Income of Rs 6854.94 Crore. Company reported net profit after tax of Rs 2419.51 Crore in latest quarter.

Investment Rationale
Making lower lows from the last four weeks and selling pressure seen with volumes


Promoter/FII Holdings
Promoters held 55.86 per cent stake in the company as of 31-Mar-2022, while FIIs owned 22.75 per cent, DIIs 9.89 per cent.