Non-banking financial services company Bajaj Finance(Bajaj Finance Ltd Share Price)The stock has seen a sharp rise in the last one week. In last week’s July 28 trading, the stock rose 10 percent to Rs. 7047 was reached. On Wednesday, July 27, 2022, the share was Rs. closed at 6393.75. The stock closed higher at Rs 7,322.05 on Tuesday, August 3. The stock closed up 0.84% at Rs 61.05. In fact, Bajaj Finance’s results for the first quarter of the current financial year have been strong. The company’s profit increased by 159 percent to Rs. 2,596 crores. This is the biggest profit for any quarter till date for the company. Brokerage houses had a mixed reaction to the stock after the Q1 results. A brokerage raised its price target on shares of Bajaj Finance to Rs. 8500 has been done.
Returned more than 300% in 5 years
Bajaj Finance has been a multibagger stock. The stock has returned over 300% in 5 years. The share price has increased from Rs 52.65 to Rs 7322 in 12 years. That is, the stock has returned more than 13000 percent in 12 years. If an investor had invested 1 lakh rupees in this stock 12 years ago, today his 1 lakh rupees would have become 1.34 crores. However, it has to stay invested in stocks till now. NBFCs have a market cap of Rs. 4.43 lakh crores. The stock’s 52-week high is Rs 8050.
What were the results of Bajaj Finance?
In the April-June quarter of the current financial year, Bajaj Finance Ltd’s net profit more than doubled to Rs. 2,596 crores. Due to this, the company in the first quarter of last financial year Rs. 1,002 crore profit was made. The company’s profit increased on the back of strong earnings due to credit growth.
During the April-June quarter, total revenue rose 38% to Rs. 9,283 crores. In the same quarter of the previous financial year it was Rs. 6,743 crores. In the June quarter, the company’s interest income rose 33% to Rs. 7,920 crores. In the same quarter a year ago, it was Rs. 5,954 crores.
Brokerage Opinion on Bajaj Finance
- JP Morgan: Global brokerage JP Morgan has upgraded its rating on Bajaj Finance stock from neutral to overweight. With this, he increased the target price of the stock from Rs 8400 to Rs 8500. In which up to 33 percent is likely to be written further.
- City: Citi has maintained a buy rating on Bajaj Finance. Also the brokerage has fixed the target price per share at Rs. 8400 has been fixed.
- CLSA: Global brokerage CLSA has maintained a sell rating on Bajaj Finance. He has given a target of Rs 5600 per share.
- Jeffrey: Jefferies maintains a hold rating on Bajaj Finance stock. The brokerage has set a target price of the stock at Rs. 7600 reduced to Rs. 7300 was done.
- Morgan Stanley: Global brokerage Morgan Stanley has given an overweight rating on Bajaj Finance. Also given a target of Rs 8000 per share.
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