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BAJFINANCE - Bajaj Finance News Story

₹3243.85 -59.2  -1.8%

Last Trade - 11:29am

Sector
Financials
Size
Large Cap
Market Cap £21.04bn
Enterprise Value £32.39bn
Revenue £2.89bn
Position in Universe 12th / 3010

BUZZ-India's Bajaj Finance hits record on strong results; Jefferies raises TP

Fri 20th July, 2018 6:24am
** Shares of non-banking finance firm Bajaj Finance Ltd
 BJFN.NS  climb as much as 6.7 pct to an all-time high of 2,690
rupees
    ** Jefferies raises TP to 2,900 rupees from 2,400 rupees;
keeps "buy" rating 
    ** Stock on track to gain for a third straight session
    ** More than 3.2 mln shares traded versus their 30-day
moving avg of 1.4 mln shares
    ** Bajaj Finance posted another strong quarter and its core
fundamentals are intact, Jefferies says
    ** Valuations appear steep, but this may sustain unless
growth slows or asset quality slips, which is unlikely in near
term - Jefferies
    ** Adds broad-based growth across segments, operating
leverage gains should offset modest NIM compression and drive 37
pct EPS CAGR and 20 pct plus ROE over FY 18-21
    ** Bajaj Group-owned company reported a 81 pct surge in June
qtr consolidated PAT during market hours on Thursday
 urn:newsml:reuters.com:*:nFWN1UF02Q
    ** Stock had risen 43 pct this year up to last close

 ((Reuters Messaging:
vishal.sridhar.thomsonreuters.com@reuters.net))
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