Bajaj Finance stocks: Buy Bajaj Finance, target price Rs 6385: Kotak Securities

Finance


Kotak Securities has buy call on Bajaj Finance with a target price of Rs 6385. The current market price of Bajaj Finance is Rs 6230.15. Kotak Securities recommended to keep stop loss at Rs 6115.

Bajaj Finance, incorporated in the year 1987, is a Large Cap company (having a market cap of Rs 375508.40 Crore) operating in NBFC sector.

Bajaj Finance key Products/Revenue Segments include Interest, Fees & Commission Income, Other Operating Revenue, Income From Sale Of Share & Securities and Service Charges for the year ending 31-Mar-2022.

Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 10785.95 Crore, up 8.16 % from last quarter Total Income of Rs 9972.63 Crore and up 26.37 % from last year same quarter Total Income of Rs 8535.06 Crore. Company has reported net profit after tax of Rs 2972.94 Crore in latest quarter.

The company’s top management includes Mr.Sanjiv Bajaj, Mr.Rajeev Jain, Ms.Radhika Haribhakti, Mr.Rajiv Bajaj, Mr.D J Balaji Rao, Dr.Naushad Forbes, Mr.Anami Roy, Mr.Pramit Jhaveri. Company has S R B C & Co. LLP as its auditors. As on 31-12-2022, the company has a total of 61 Crore shares outstanding.

Investment Rationale
Formed long leg Doji candle which indicates astrong possibility of a fresh uptrend.

Promoter/FII Holdings
Promoters held 55.91 per cent stake in the company as of 31-Dec-2022, while FIIs owned 16.38 per cent, DIIs 12.34 per cent.

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