Sharekhan is bullish on Bajaj Holdings and Investment has recommended buy rating on the stock with a target price of Rs 3558 in its research report dated November 27, 2018.
BHIL reported muted results for Q2FY2019 on account of weak results by associate companies. Amongst the associates; Bajaj Finserv posted modest numbers overall. Lending business performance was satisfactory, profitability of the insurance subsidiaries weakened. Bajaj Auto too reported weak results for Q2FY19; earnings are expected to decline 9% in2HFY19 given the elevated cost pressures due to higher sales & promotion expenses.
Outlook
We maintain our Buy rating on Bajaj Holdings and Investment Limited (BHIL) with a revised PT of Rs. 3,558 (earlier PT of Rs 3,844).
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