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Bharat Electronics is set to announce its first interim dividend for FY25, while Finance Minister Nirmala Sitharaman emphasizes the need for India to enhance bilateral relations for trade and investment amid a shifting global landscape. She notes that multilateral institutions are losing effectiveness, making bilateral agreements increasingly vital for economic growth.
Bajaj Finance shares fell 1.5% to Rs 8,312 after UBS issued a "sell" rating, predicting an 18% downside with a target of Rs 6,800. Despite a 17% rise in Q3 FY25 net profit to Rs 4,247 crore and a 12% stock surge over the past month, concerns over high credit costs and declining asset quality persist.
UBS has raised its target price for Bajaj Finance to Rs 6,800 from 6,500 while maintaining a 'sell' rating, citing concerns over high credit costs and a structural decline in return on assets. The brokerage highlights worsening borrower repayment trends and weakened underwriting in business loans, predicting a fall in RoA due to changes in the asset mix. Despite expectations for customer growth through the Liberalised Remittance Scheme and aggressive cross-selling, the firm's expansion into dealer-driven products may limit cross-sell potential.
Bajaj Finance Ltd reported a muted performance in Q2 FY25, with net profit rising 13% year-on-year, falling short of the typical 25-28% growth. Strong loan growth and stable margins were overshadowed by a significant rise in credit costs and provisions, leading to a decline in asset quality. Valuations have moderated, but increased downside risks to the stock price are noted.
Bajaj Finance Ltd.
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India emphasizes bilateral relations as key to global trade and investment growth
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