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Bajaj Finance Shares in Focus as Q4 Profit Surges 30%

Bajaj Finserve rose more than 1% in early trade on Thursday ahead of the release of its Q4FY23 results.

On April 27, Bajaj Finance’s share price will stay in focus due to better numbers reported by the company on April 26.

Bajaj Finance reported that its combined net profit for the quarter ended March 2023 was Rs 3,157.79 crore, up 30.51% from Rs 2,419.51 in the same quarter last year.

Revenue from operations of the firm came in at Rs 11,359.59 crore, up 31.68% from Rs 8,626.06 crore in the year-ago period.

The Board of Directors has suggested equity shares’ dividend at Rs 30 per share, which the company mentioned in a regulatory filing.

Net interest income (NII) for 04 FY23 augmented by 28% to Rs 7,771 crore from Rs 6,061 crore.

Motilal Oswal’s estimates for FY24 and FY25 have comprehended a minor upsurge to issue in the higher AUM growth guidance and anticipate the business to convey a PAT CAGR of 24% over FY23-FY25 and an RoA/RoE of 4.6% to 24% in FY25. It preserves ‘buy’ with a target price of Rs 7,080 (premised on 5.3x FY25E BVPS).

Morgan Stanley has given an ‘overweight’ rating on the stock and a target of Rs 8,000 per share. The agreement estimations remain positive. The company’s return on equity (RoE) outline, an essential value creation metric, records high, and there are devices to improve it further.

The company raised its loan growth guidance for FY24 to 28% to 29%, higher than the previous estimate of 26% to 27%.

Prabhudas Lilladher upholds buy rating, target price at Rs 7,835 on (7x Sep’ 24E PABV) as its FY24/25 estimates kept unchanged.

The rate hikes impact on the cost of funds is more regular than projected, even if the firm expects NIMs to be moderate at 11.8% in FY24 from 12.1% in FY23.

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