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Bajaj Finance Ltd BUY technical
CMP: `1178 (As on 03rd Apr 2017) pick
Buy: `1178-1165
Target Price: `1220-1250 Bajaj Finance Ltd is a non-banking finance
Stop-Loss: `1155 company (NBFC). The company is engaged
in lending and allied activities. It focuses on
Bajaj Finance Ltd consumer lending, small and medium-sized
enterprises (SME) lending, commercial lending,
rural lending, fixed deposits and value-added
services. Its consumer lending products include
two-wheelers and three-wheelers finance,
consumer durables finance, digital products
finance, retailer finance, salaried personal loans,
e-commerce consumer finance, e-commerce seller
finance and home loan. It’s SME lending products
include loan against property and business loans.
Its commercial lending products include loan
against securities and financial institutions group
lending business. Its rural lending products
include personal loans cross-sell, salaried personal
loans and gold loans. It offers retail fixed deposits
and wholesale fixed deposits. It is engaged in
life insurance distribution, general insurance
distribution and mutual fund distribution. They
also extended their product line with the launch
of IPO financing for high networth customers. The
company plans to introduce new products, thus
increasing its product portfolio as well as widen its
presence in semi-urban and rural markets.
Technical Outlook:
The multi time frame analysis clearly suggests
that the stock is in a firm uptrend. Further we
are observing that the momentum indicators are
gaining strength which clearly indicates that the
upside momentum is likely to continue.
Hence we recommend buying in stock at Rs 1178
or on a decline up to Rs 1165 with a stop loss of
Rs 1155 for a target of Rs 1220-1250 levels.
4 ARIHANT CAPITAL ¡ APRIL 2017
