HomeFinanceBajaj Finance stocks: Buy Bajaj Finance, target price Rs 6240: ICICI Direct

Bajaj Finance stocks: Buy Bajaj Finance, target price Rs 6240: ICICI Direct

ICICI Direct has buy call on Bajaj Finance with a target price of Rs 6240. The current market price of is Rs 6056.45. Time period given by analyst is Intra Day when . price can reach defined target.

Bajaj Finance Ltd., incorporated in the year 1987, is a Large Cap company (having a market cap of Rs 366878.01 Crore) operating in NBFC sector.

Bajaj Finance Ltd. 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 31-03-2022, the company reported a Consolidated Total Income of Rs 8630.28 Crore, up 1.12 % from last quarter Total Income of Rs 8535.06 Crore and up 25.90 % from last year same quarter Total Income of Rs 6854.94 Crore. Company reported net profit after tax of Rs 2419.51 Crore in latest quarter.

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Investment Rationale
Buying demand from the 80% retracement of the April-October 2021 rally gives favorable risk-reward



Promoter/FII Holdings
Promoters held 55.86 per cent stake in the company as of 31-Mar-2022, while FIIs owned 22.75 per cent, DIIs 9.89 per cent.

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