Buy Bajaj Holdings and Investment target of Rs 4654: Sharekhan
Sharekhan’s research report on Bajaj Holdings and Investment
Bajaj Holdings & Investment Ltd (BHIL) posted strong Q2 results with PAT growing 39% yoy driven by robust performance of both associate companies Bajaj Finserv (BFS) and Bajaj Auto Ltd (BAL). BFS posted robust 71% growth in Net Profit in Q2; BFS has huge growth potential across business segments. We have raised our PT on BFS to Rs 9,200 from Rs 8,000 earlier. BAL Q2 results were ahead of estimates driven by better margins. We have raised our PT to Rs 3,100 from Rs 2,530 on better Q2 and benefit of lower tax rate.
We have raised our TP on BHIL to Rs 4,654 (earlier TP of Rs 4,150) to factor upward revision in TP of both BFS and BAL. We maintain Buy recommendation on the stock.
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