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Buy Bajaj Finserv; target of Rs 4900: ICICI Direct

ICICI Direct is bullish on Bajaj Finserv has recommended buy rating on the stock with a target price of Rs 4900 in its research report dated May 19, 2017.

May 23, 2017 / 03:19 PM IST
 
 
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ICICI Direct's research report on Bajaj Finserv

Bajaj Finserv, a financial conglomerate under the flagship brand of Bajaj and leadership of Sanjeev Bajaj, witnessed a sharp surge in earnings in all three key business segments. In general insurance, it is the most profitable and efficient player among competitors.

Outlook

Therefore, we maintain our target price at Rs 4900/share, based on SOTP valuation, implying a multiple of 19.5x on FY19E consolidated earnings. The stock is available at P/E valuation of 17.2x FY19E earnings. Consequently, we maintain BUY. Dividend from the insurance business can be an upside risk.

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first published: May 23, 2017 03:19 pm

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