Bajaj Finance share price up 12% this year so far; should you buy or avoid this stock? Here's what experts say
Bajaj Finance share price declined over a per cent in intraday trade on Thursday. The stock opened at ₹7,383.65 against the previous close of ₹7,383.65 and fell 1.07 per cent to the intraday low of ₹7,304.80 on BSE. Bajaj Finance's share price has gained 12 per cent this year so far (as of September 6 close).
Equity benchmark Sensex, on the other hand, has gained about 8 per cent in the same period. The stock hit its 52-week high of ₹7,999.90 on BSE on July 5 this year. As of the previous session's close, the stock is down nearly 8 per cent from its one-year peak level.
Experts are largely positive about the stock for the long term. They point out that the fundamentals of the stock are strong and the company has made significant progress in multiple domains across its 'omnichannel' strategy. According to the company, the omnichannel strategy enables customers to move between online and offline and vice-versa in a frictionless manner.
The omnichannel strategy has six domains: (i) Geographic expansion, (ii) Bajaj Finserv app, (iii) Bajaj Finserv website, (iv) Payments, (v) Productivity apps, and (vi) Customer data platform (CDP). "Omnichannel strategy will make Bajaj Finance a truly customer-centric digital enterprise," says Sanjiv Bajaj, Chairman of Bajaj Finance. Experts and brokerage firms have faith in the company's ability to ensure higher engagement and retention of customers.
Brokerage firm Motilal Oswal Financial Servicessees a 19 per cent upside potential in Bajaj Finance stock. The brokerage firm has a buy call on the stock with a target price of ₹8,800. The brokerage firm said payment solution offerings will be core to delivering the 'omnichannel' strategy since it can drive higher engagement and retention of
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