Multibagger stock: Bajaj Finance shares zoom over 5,400% in 10 years! Do you have it?
Bajaj Finance stock has delivered over 5,400% return in 10 years. As on October 25, it was up 38 per cent from its June low of Rs 5,235.60
Analysts are bullish on the stock given the improvement in asset quality, healthy acceleration in digital EMI card acquisitions, stable net interest margin and expanding revenue streams
JM Financial has a target of Rs 9,000 on the stock. The investment banking firm remains positive on Bajaj’s digital transformation trajectory medium-term while expecting strong earnings growth
KRChoksey also has a 'Buy' rating with a target of Rs 8,630
It said that digital initiatives are likely to be the key drivers in the company's ability to leverage new product launches, faster customer acquisition, and streamline operational processes
According to Axis Securities, the asset quality metric for Bajaj Finance continues to improve and is currently at better than pre-Covid levels. It sees the value in the stock at Rs 8,600
Manoj Dalmia, Founder and Director of Proficient Equities expects some good moves above Rs 8,000
For the quarter ended September 2022, the company posted 88 per cent YoY jump in its consolidated net profit at Rs 2,781 crore against Rs 1,481 crore in the same period last year
On Tuesday, shares of Bajaj Finance ended 1.4 per cent lower at Rs 7,104.15. The market cap of the firm fell to Rs 4,30,107.07 crore
Story by Tanya Aneja Designed by Mohsin Shaikh Produced by Prashanti Moktan