Please refer to important disclosures at the end of this report
Bajaj Finserv is the holding company for Bajaj Group's NBFC arm Bajaj Finance,
and two insurance arms - Bajaj Allianz Life and Bajaj Allianz General Insurance
(BAGI). Bajaj Finserv reported 15% increase in consolidated PAT in Q1FY17
mainly due to the good performance of the Bajaj Finance (BAF). The BAF is a
dominant player in the consumer durable financing segment. It continues to
increase its market share in the consumer lending business.AUM grew b
40%YoY and despite high loan book growth BAF maintained asset quality, Net
NPA as on 30 June 2016 stood at 0.41%. BAGI has reported Highest PAT
among private players in FY16 and ROE of 22.5% in FY16. We believe the
continuation of robust performance by BAF and insurance segment bodes well
for Bajaj Fiserve. The stock has been forming ‘Higher Tops Higher Bottoms’
which is a clear sign of strong uptrend. On weekly charts, prices are trading
above the ‘SuperTrend’ and the ‘Parabolic SAR’ indicator, which confirms the
upward momentum in the stock. The volumes in the recent upmove, too, have
increased and hence, we are expecting continuation of the ongoing uptrend.
Hence, Buy.
CMP `2,966
Stock Info
Bloomberg Code BJFIN@IN
Shareholding Pattern (%)
Promoters 58.4
MF / Banks / Indian Fls 16.4
FII / NRIs / OCBs 6.8
Indian Public / Others 18.4
Abs. (%) 3m 1yr 3yr
Sensex 6.7 8.3 52.8
Bajaj Finserv 18.3 91.5 446.6
Market Cap (
cr) 47,205
Beta 0.7
52 Week High / Low 2,999/1,576
Avg. Daily Volume 19,021
Face Value (
BSE Sensex 28,452
Nifty 8,786
Reuters Code BJFS.BO
Vaibhav Agrawal
022 – 3935 7800 Ext: 6808
Bajaj Finserv
Others | Finance
August 31, 2016
Bajaj Finserv | Finance
ugust 31, 2016
Research Team Tel: 022 - 39357800 E-mail: [email protected] Website:
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