Bajaj Finserv up over 2% as subsidiary Bajaj Allianz reports numbers in August

Shares of Bajaj Finserv was trading more than two percent higher in early trade on September 8, a day after subsidiary Bajaj Allianz General Insurance Company posted strong numbers for August.

Bajaj Allianz General Insurance Company’s gross direct premium underwritten for August was at Rs 1,677.87 crore and the premium in the current financial year up to August at Rs 9,228.81 crore, the company said in a filing with BSE on September 7.

Bajaj Allianz Life Insurance Company’s total premium for August stood at Rs 926.41 crore and premium in the current financial year (FY24) up to August at Rs 3,828.06 crore.

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Brokerage Views

Brokerage firm KR Choksey is bullish on Bajaj Finserv and has a “buy” rating on the stock with a target price of Rs 1,850.

Also Read: RR Kabel sets IPO price band at Rs 983-1,035 per share

Sharekhan is bullish on Bajaj Finserv and the firm has recommended “buy” rating with a target price of Rs 1,650 in a recent research report.

Bajaj Finserv stock has given a return of 10.01 percent over the last six months, underperforming the Nifty’s 11.11 percent over the same duration.

At 9.44 am, the stock was trading at Rs 1,554 on the National Stock Exchange, up  2.27 percent from the previous day.

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