Stay updated with breaking news from Ci Ratio. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Bajaj Finance Q2 preview: Bajaj Finance is seen reporting a 31% year-on-year (YoY) rise in consolidated net profit for the September quarter to Rs 3,632 crore, according to the average of estimates given by seven brokerage houses. Net interest income, the difference between interest earned and interest expended, may grow a modest 5% YoY to Rs 7,340 crore.
The company's new loans booked during Q1 grew by 34% to 9.94 million as compared to 7.42 million in the corresponding quarter of the previous year.
Axis Securities is bullish on HDFC Bank has recommended buy rating on the stock with a target price of Rs 2050 in its research report dated July 18, 2023.
Bajaj Finance's Core AUM grew by 29% to approximately ₹ 247,350 crore as of 31 March 2023 as compared to ₹ 192,087 crore (AUM excluding short-term IPO financing receivable of ₹ 5,365 crore) as of 31 March 2022. AUM in Q4 FY23 grew by approximately ₹ 16,500 crore.
Brokerage selected five midcap stocks and four smallcap stocks as its top picks. Some of these are Dalmia Bharat, Federal Bank, PNC Infratech, Praj Industries, and Ashok Leyland among others.