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BAJAJ FINANCE LTD.

NSE : BAJFINANCEBSE : 500034ISIN CODE : INE296A01024Industry : Finance - NBFCHouse : Bajaj
BSE3175.3557.55 (+1.85 %)
PREV CLOSE ( ) 3117.80
OPEN PRICE ( ) 3117.80
BID PRICE (QTY) 0.00 (0)
OFFER PRICE (QTY) 3175.35 (2)
VOLUME 235183
TODAY'S LOW / HIGH ( )2998.60 3200.00
52 WK LOW / HIGH ( )1912 3761.35
NSE3174.3560.25 (+1.93 %)
PREV CLOSE( ) 3114.10
OPEN PRICE ( ) 3118.00
BID PRICE (QTY) 0.00 (0)
OFFER PRICE (QTY) 3174.35 (455)
VOLUME 3143787
TODAY'S LOW / HIGH( ) 2998.00 3200.00
52 WK LOW / HIGH ( )1912.2 3762
AnalystDate29 Jul 2019
BSECode500034
BlogURLNA
NoteDescriptionView and Valuation BAF maintains strong growth across products categories and geographic expansion with rising efficiency and better margins. Acquisition of new customer and expansion of network also continued to remain strong and in line with management strategy. However with rise in leverage of retail customers in the economy, growth and quality may get impacted in the near term. As a prudence, management has stringent the underwriting norms. Fewer product segment also showed some sign of rise in stress. The rise in credit cost since last three quarters signals alarming situation. We are cautious on the rising stress on retail consumption story. Management plans to raise capital of $1.2 Bn in near term. We have not factored the equity dilution in our estimates and maintain our estimates. We maintain our NEUTRAL view on the stock with the target price of Rs 3221 at 6x BV FY21e.
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