May 18, 2018 / 5:22 AM / 4 days ago

BUZZ-India's Bajaj Finance hits record high on stellar Q4 show

** Shares of Bajaj Finance Ltd rise as much as 3.4 pct to an all-time high of 2,138 rupees

** Stock poised for a sixth straight session of gains

** Brokerages turn bullish after the non-banking finance co reported a 60 pct jump in March-qtr profit after tax during afternoon trading hours on Thursday

** Morgan Stanley (MS) raises TP to 2,500 rupees from 2,000 rupees, while Jefferies raises TP to 2,400 rupees from 2,100 rupees

** MS says Q4 was strong on every metric – customer acquisition, AUM growth, margins, NPL recoveries

** Stock’s valuation is not cheap and macro is tricky, MS says, but keeps “overweight” on consistent best-inclass execution

** Jefferies retains “buy” rating; adds Bajaj Finance reported another solid quarter and loan growth surprised positively

** Stock up 56 pct in 12 months, up to Thursday’s close

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