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Bajaj Finance Ltd                 BUY   technical

CMP: `1178 (As on 03rd Apr 2017)       pick
Buy: `1178-1165
Target Price: `1220-1250               Bajaj Finance Ltd is a non-banking finance
Stop-Loss: `1155                       company (NBFC). The company is engaged
                                       in lending and allied activities. It focuses on
           Bajaj Finance Ltd           consumer lending, small and medium-sized
                                       enterprises (SME) lending, commercial lending,
                                       rural lending, fixed deposits and value-added
                                       services. Its consumer lending products include
                                       two-wheelers and three-wheelers finance,
                                       consumer durables finance, digital products
                                       finance, retailer finance, salaried personal loans,
                                       e-commerce consumer finance, e-commerce seller
                                       finance and home loan. It’s SME lending products
                                       include loan against property and business loans.
                                       Its commercial lending products include loan
                                       against securities and financial institutions group
                                       lending business. Its rural lending products
                                       include personal loans cross-sell, salaried personal
                                       loans and gold loans. It offers retail fixed deposits
                                       and wholesale fixed deposits. It is engaged in
                                       life insurance distribution, general insurance
                                       distribution and mutual fund distribution. They
                                       also extended their product line with the launch
                                       of IPO financing for high networth customers. The
                                       company plans to introduce new products, thus
                                       increasing its product portfolio as well as widen its
                                       presence in semi-urban and rural markets.
                                       Technical Outlook:
                                       The multi time frame analysis clearly suggests
                                       that the stock is in a firm uptrend. Further we
                                       are observing that the momentum indicators are
                                       gaining strength which clearly indicates that the
                                       upside momentum is likely to continue.
                                       Hence we recommend buying in stock at Rs 1178
                                       or on a decline up to Rs 1165 with a stop loss of
                                       Rs 1155 for a target of Rs 1220-1250 levels.

                                                                      4 ARIHANT CAPITAL ¡ APRIL 2017
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