India's Bajaj Finance, Bajaj Finserv climb on Nomura's positive view

Bajaj Finserv

25/08/2023 07:42

** Shares of Bajaj Finance  BJFN.NS  rise as much as 1.97%
to a three-week high of 7,278.10 rupees
    ** BJFN's holding company Bajaj Finserv  BJFS.NS  also up
over 2%; BJFN and BJFS among top Nifty 50 gainers
    ** Brokerage Nomura initiates coverage on BJFN with "buy"
rating 
    ** Sets PT at 8,700 rupees, an implied upside of 22.3%
    ** Fears concerning the entry of Jio Financial Services are
overdone, says Nomura
    ** Adds BJFN's strong business momentum set to continue
    ** Nomura also upgrades Bajaj Finserv to "buy" from
"neutral", cite attractive valuations
    ** Of the 29 analysts tracking BJFN, nine maintain "strong
buy", 11 suggest "buy", four recommend "hold" and five have
"sell"; median PT is 8,300 rupees - Refinitiv data
    ** BJFN up 9.6% in 2023 so far, including today's gains,
compared with 6.65% rise in benchmark Nifty 50 index  .NSEI 

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))