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Bajaj Holdings & Investment Ltd.: Buy Bajaj Holdings & Investment, target Rs 3,844: Sharekhan

Sharekhan has a buy call on Bajaj Holdings & Investment (BHIL) with a target price of Rs 3,844.

The current market price of Bajaj Holdings & Investment is Rs 3,156.

Time period given by the brokerage is one year when Bajaj Holdings & Investment price can reach the defined target.

View of the brokerage on the company:

Given the strategic nature of BHIL’s investments (BAL and BFS), we have given a holding company discount of 50 per cent to its equity investments. Liquid investments have been valued at cost. The price target for BFS has been raised to Rs 7,834 from Rs 6,725 earlier, given the strong performance in Q1FY2019. The price target of BAL has been slashed from Rs 3,526 to Rs 2,905 post dismal Q1FY2019 results and pressure on profitability due to aggressive pursuance of market share. Consequently, we arrive at a target price of Rs 3,844 for BHIL (earlier target price of Rs 3,590). We maintain our Buy recommendation on the stock.




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