By Aditya Raghunath
Investing.com -- For the quarter ended June 30, 2021, Bajaj Finance Ltd (NS: BJFN ) reported a total income of Rs 6,743.01 crore, down -1.63 % from Q4 FY21’s Rs 6,854.94 crore, and up 1.40 % from Rs 6,649.74 crore it posted in the corresponding period last fiscal. It reported a net profit of Rs 1,002.44 crore for the June 2021 quarter. These numbers are well below analyst estimates.
Brokerages are divided over the company’s prospects. Motilal Oswal Financial Services Ltd (NS: MOFS ) is bullish on the stock and has a buy recommendation with a target price of Rs 6,750 on the stock. That’s a potential upside of 13.5% from its July 20 closing price of Rs 5,941.85. The brokerage said, “Despite the transitory deterioration in asset quality and resultant high credit costs, 1QFY22 was a decent quarter for BAF. Customer acquisitions and new loans booked were healthy even in a pandemic-disrupted quarter.”
Nomura has downgraded the stock to a ‘hold’ rating with a reduced target price of Rs 6,390 from its earlier Rs 6,500. It said that the upside for Bajaj Finance in the near term will be limited. HDFC (NS: HDFC ) Securities has a ‘reduce’ rating on the stock. Its target price for the stock has been revied to Rs 4,590 from Rs 4,798 earlier.
Bernstein, however, has retained its ‘outperform’ rating with a target of Rs 7,240 for Bajaj Finance.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
yes we will buy thisLike 0