Analysts at the brokerage acknowledged that Bajaj Finance delivered a strong quarter helped by festival season and a rebound from the second wave of Covid, they said its “valuation seemed disconnected to them”, particularly compared to other lenders who see a growing recovery.
They see the stock at Rs 6,500 over the next 12 months, raising the target to Rs 500. The stock fell 0.50% on Thursday to end at Rs 7,534.
Jefferies’ Optimism
Jefferies believes the market does not set prices in the digital sector, where it competes with API Holdings (Pharmeasy), Jio-Netmeds, Tata-1Mg and FlipkartSasta Sundar in digital health.
Shares of
Hospitals have corrected in recent months. “Apollo’s recent price correction provides a better entry point for the stock. Apart from its digital foray, Apollo is the largest hospital and pharmacy chain in India offering a game on branded and organized healthcare,” Jefferies analysts said. Following the release of these views, Apollo Hospitals rose nearly 3% on Thursday to Rs 4,635. Jefferies pegs it at Rs 6,006 over the next 12 months.
Microcap receives a mega order
Transformers and Rectifiers, a Rs 450 crore company, received orders for transformers for a total contract value of Rs 73 crore from MP Power Transmission Package – II Limited, which boosted investors on a bad day for the all markets.
With this order, the company’s order book to date stands at around Rs 1,068 crore.
The title jumped 6.05% to Rs 36.80. The stock is already up 84% in the past year.
