Sharekhan is bullish on Bajaj Holdings and Investment has recommended buy rating on the stock with a target price of Rs 3388 in its research report dated March 27, 2018.
Sharekhan's research report on Bajaj Holdings and Investment
Bajaj Holdings and Investment Limited (BHIL) holds Bajaj Group’s investments in two flagship companies - Bajaj Auto Limited (BAL - 31.54% stake) and Bajaj Finserv (BFS - 39.29% stake). BHIL also has an investment portfolio with a market value of Rs. 7,368 crore in other equity and fixed income securities as of quarter ending December 2017.
Outlook
Given the strategic nature of BHIL investments (BAL and BFS), we have given a holding company discount of 50% to its equity investments. Liquid investments have been valued at cost. Further, we have downgraded our recommendation on BAL to HOLD with a revised PT of Rs 3,038 (Earlier PT – Rs 3,625 with a Buy recommendation). The price target (PT) for BFS has been maintained at Rs. 6,050. We maintain our Buy recommendation on BHIL with a revised SOTP based PT of Rs. 3,388 (earlier PT of Rs 3,628).
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