Bajaj Finance is engaged in the business of lending. It has a diversified lending portfolio across retail, SME and commercial customers with a significant presence in urban and rural India. It also accepts public and corporate deposits and offers variety of financial services products to its customers.
Quarterly Earnings Results Walkthrough
Bajaj Finance reported their net Sales at Rs 9968 crore in September 2022 which is up by 29% from Rs 7731 crore in September 2021.
The company’s Quarterly Net Profit came in at Rs 2781 crore in September 2022 up 88% from Rs 1481 crore in September 2021.
Bajaj Finance EPS has jumped to Rs. 46.05 in September 2022 from Rs. 24.58 in September 2021.
EBITDA is at Rs 6844 crore in September 2022 up 52% from Rs 4496 crore in September 2021.
Brokerage Firm Recommendations
Motilal Oswal is bullish on Bajaj Finance recommended buy rating on the stock with a target price of Rs 8310 in its research report dated October 21, 2022.
ICICI Direct is bullish on Bajaj Finance recommended buy rating on the stock with a target price of Rs 8650 in its research report dated October 21, 2022.
KR Choksey is bullish on Bajaj Finance has recommended buy rating on the stock with a target price of Rs 8630 in its research report dated October 21, 2022.
YES Securities is bullish on Bajaj Finance has recommended buy rating on the stock with a target price of Rs 8500 in its research report dated October 21, 2022.
Prabhudas Lilladher is bullish on Bajaj Finance has recommended buy rating on the stock with a target price of Rs 8953 in its research report dated October 21, 2022.
The stock price faces severe resistance as it reaches 7600 price band. This is definitely a distribution zone wherein the operators are dumping the stock. This price manipulation is to give maximum damage to option buyers. A breakout over this level will take the stock to its 261.8% retracement level at Rs 10004.
MFI is at 56 which indicates the stock may have an upside as it is not overbought yet. This stock can be accumulated on corrections as the strong earnings results show that this business is booming.
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