BAJAJ FINANCE RATING: SELL -Growth revived firmly in Q3FY22
Financial Express Mumbai|January 24, 2022
Medium-term outlook bright; execution risk for new app not reflected in valuation; 'Sell' retained with TP of ₹6350

BAJAJ FINANCE'S LOAN growth is firmly back, up 9% q-o-q in Q3FY22. We expect the overall medium-term trajectory to remain strong even as a combination of competition across segments, rising rates and investments in new initiatives will exert some pressure. Amid normalising business and asset quality performance, cooling down in the Street's initial euphoria on the new app will temper stock performance, retain Sell; FV of Medium-term outlook bright; execution risk for new app not reflected in valuation; 'Sell' retained with TP of 6350 (5.9X book FY2024e), rolled over from Medium-term outlook bright; execution risk for new app not reflected in valuation; 'Sell' retained with TP of 6,000.

Continue reading your story on the app

Continue reading your story in the newspaper

MORE STORIES FROM FINANCIAL EXPRESS MUMBAIView All

Large banks see increase in slippages in March qtr

Despite rising slippages, analysts are taking heart from the fact that recoveries by banks have been improving

2 mins read
Financial Express Mumbai
May 24, 2022

India joins Indo-Pacific economic bloc led by US to counter China

Will strengthen supply chain pillars — trust, transparency and timeliness: PM

4 mins read
Financial Express Mumbai
May 24, 2022

China plans tax rebates of over $21 bn to lift economy

Beijing will also extend an existing delay on firms' social-insurance contributions to end of year and expand the step to more sectors

2 mins read
Financial Express Mumbai
May 24, 2022

A good end to fiscal for company

Strong bottom line growth in Q4; earnings outlook is improving; valuations are attractive; 'Buy' retained with target price of ₹194

2 mins read
Financial Express Mumbai
May 24, 2022

Zomato's loss widens to ₹360 cr in March quarter

FOOD TECH PLAYER Zomato on Monday reported a bigger consolidated loss of ₹360 crore for the March quarter compared with ₹131 crore in Q4FY21.

1 min read
Financial Express Mumbai
May 24, 2022

Fuel prices: Reliance-BP says operations have become unsustainable

RELIANCE BP MOBILITY(RMBL), a venture of Reliance Industries and supermajor BP, has told the government that fuel retailing for the private sector in India has become unsustainable after market-controlling public sector firms frequently froze petrol and diesel prices at rates way below the cost, sources said.

2 mins read
Financial Express Mumbai
May 24, 2022

Jet Airways recruits senior executives

JET AIRWAYS HAS made four top-level appointments as the airline prepares to take to the skies again, three years after it was grounded due to a financial crunch.

1 min read
Financial Express Mumbai
May 24, 2022

Higher tax receipts to minimise extra govt borrowing in FY23

HIGHER TAX REVENUES will enable the government to minimise additional borrowing requirements despite a fiscal expansion of close to 2 trillion over the FY23 Budget estimate, provided no significant further relief measures are rolled out, analysts said.

2 mins read
Financial Express Mumbai
May 24, 2022

India seeks easing of WTO food export rule

New Delhi imposed ban on wheat exports, but kept window for supplies to needy open via govt-to-govt deals

2 mins read
Financial Express Mumbai
May 24, 2022

Maruti May Stop S-Cross, Drive In SUV With Toyota

New model to take on Hyundai's Creta

2 mins read
Financial Express Mumbai
May 23, 2022