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Anand Rathi Report
Driven by strong, 35% YoY, assets under management growth, Bajaj Finance Ltd.'s Q3 FY24 net profit rose 22.4% YoY to Rs 36.4 billion (above expectations). Despite premium valuations, we retain a 'Buy', on the best-in-class execution skills, robust customer franchisees and strong tech architecture.
At our 12-month target price of Rs 9,650 the stock trades at 5.2 times FY26e book value and 25 times FY26e earning per share.
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