Sell Bajaj Finance, target price Rs 4600: Edelweiss

Sell Bajaj Finance, target price Rs 4600:  Edelweiss

Edelweiss has sell call on Bajaj Finance with a target price of Rs 4600. The current market price of Bajaj Finance Ltd. is Rs 4914.55.

Bajaj Finance Ltd., incorporated in the year 1987, is a Large Cap company (having a market cap of Rs 295792.05 Crore) operating in NBFC sector.

For the quarter ended 31-12-2020, the company reported a Consolidated sales of Rs 6614.60 Crore, up 2.07 % from last quarter Sales of Rs 6480.35 Crore and down -5.65 % from last year same quarter Sales of Rs 7011.05 Crore Company reported net profit after tax of Rs 1145.98 Crore in latest quarter.

Investment Rationale
Bajaj Finance retraced back after it faced resistance around 5250 levels. It has shown initial signs of weakness as it closed below swing low of 5000.

Promoter/FII Holdings
Promoters held 56.2 per cent stake in the company as of June 30, 2020, while FIIs held 21.5 per cent, DIIs 10.1 per cent and public and others 12.2 per cent.

Source link


Please enter your comment!
Please enter your name here