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BAJFINANCE - Bajaj Finance News Story

₹3138.95 110.1  3.6%

Last Trade - 25/09/20

Sector
Financials
Size
Large Cap
Market Cap £20.00bn
Enterprise Value £31.36bn
Revenue £2.89bn
Position in Universe 13th / 3012

BUZZ-India's Bajaj Finance: HSBC starts coverage with 'buy' rating

Tue 20th November, 2018 4:36am
** HSBC initiates coverage on non-banking financial co Bajaj
Finance Ltd  BJFN.NS  at target price of 3,000 rupees and a
'buy' rating
    ** Management has demonstrated its execution capability,
making co one of the fastest-growing and most profitable
banking, financial services and insurance (BFSI) cos in India,
with a valuation premium to peers - HSBC
    ** Stock has a PE ratio of 30.46 for the next 12 months,
highest among its peers, according to Refinitiv data
    ** Bajaj Fin benefits from network effect of complementary
payments and e-commerce, giving it a growing customer franchise,
HSBC analysts write 
    ** Co's stable asset quality comes from having repeat
customers accounting for 60 pct of its consumer business - HSBC
    ** 14 of 23 brokerages covering the stock rate it "buy" or
higher, nine "hold" and three "sell"; their median PT is 2,473
rupees - Refinitiv data
    ** Stock rises as much as 1.4 pct to 2,392.50 rupees

 ((Reuters Messaging:
tanvi.mehta.thomsonreuters.com@reuters.net))
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