Bajaj Finserv Share Price: Shares of Bajaj Finserv may rise by about 13 percent from the current level. Brokerage firm Emkay Global Financial has made this estimate in a recent report. The brokerage has given a ‘Buy’ rating to the shares of Bajaj Finserv and has set a target price of Rs 2,150 for it. This report of Emkay has come at a time when the stock of Bajaj Finserv has climbed by about 22 percent in the last one month. At the same time, the shares of its indirect subsidiary, Bajaj Housing Finance, are going to be listed on the stock markets next week.
The brokerage said that it is bullish on Bajaj Finserv stock primarily for 3 reasons. First, despite temporary disruptions, the established businesses of BAF and BAGIC remain arguably the best in the industry and have maintained an edge over their competitors. Second, BALIC has done well in challenging times and is now one of the top non-banking owned franchises in the country. Third, new businesses like Bajaj Finserv AMC and Bajaj Securities enhance its product portfolio. Bajaj Finserv Health, on the other hand, offers a great long-term opportunity in the healthcare segment.
Emkay Global said that overall, we expect Bajaj Finserv’s net profit to grow at a rate of 24 per cent to Rs 154 billion during FY 2024 to 2027. We believe that Bajaj Finserv’s role is well suited to expand the business with established and strong franchisees like BAF and BAGIC.
The brokerage said that we have started covering Bajaj Finserv shares with a ‘Buy’ rating and have set a target price of Rs 2,150 per share for it. This is at a price to book value (P/B) of 4.1 times the estimated earnings of FY26.
Meanwhile, shares of Bajaj Finserv closed at Rs 1,898 today on 13 September with a gain of 2.33 percent. So far this year, the performance of its shares has been weak. Since January till now, the company’s shares have gained about 13.22 percent. Whereas in comparison, the Nifty index has risen by more than 16 percent during this period.
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