 "Bajaj Finance")
The stock of NBFC major Bajaj Finance has seen selling in the past few sessions, after negative reports by some analysts. CLSA says the stock was likely to “undershoot expectations in the medium –term”. The report cited “a large base, decline in customer repeat purchase ratio and rising competitive intensity in core segments posing risks to its medium-term loan growth”.
The CLSA report assigns a target price of Rs 6,000 and initiated a sell rating when the market price was at Rs 7,452. Earlier (in late October post Q2 results), Kotak Institutional Equities had assigned a similar target price with
