Sell Bajaj Finance, target price Rs 4480: Kotak Securities

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Sell Bajaj Finance, target price Rs 4480:  Kotak Securities


Kotak Securities Limited has sell call on Bajaj Finance Ltd. with a target price of Rs 4480. The current market price of Bajaj Finance Ltd. is Rs 4820.3.

Bajaj Finance Ltd., incorporated in the year 1987, is a Large Cap company (having a market cap of Rs 287214.22 Crore) operating in NBFC sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 6480.35 Crore, down 2.33 % from last quarter Sales of Rs 6634.93 Crore and up 2.51 % from last year same quarter Sales of Rs 6321.45 Crore Company reported net profit after tax of Rs 964.88 Crore in latest quarter.


Investment Rationale
The stock is diverging is negatively, which is an indication of shift in the direction of trend.


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.





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