BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Nomura retains neutral on Bajaj Finserv 4800
All businesses of Bajaj Finserv reported strong 1QFY18 numbers, with a beat in the lending book ( 40% y/y PAT growth) and general insurance business (gross premium growth of 29% y/y), and life business also recovering from a low base (with individual weighted premium growth of 120% y/y). The group continues to build its dominance and profitability in the lending and general businesses, and its life business is also recovering from a low base. We are positive on Bajaj Finserv from a long-term prospective and our Neutral rating is more valuation-driven. We raise our TP to INR4,800 from INR4,300 as we roll over to Sep-19F.