Bajaj Finserve - Q2FY21 Results - Angel Broking

Mr. Jaikishan Parmar, Sr. Equity Research Analyst, Angel Broking Ltd

For Q2FY21 Bajaj finserve reported a subdued set of numbers, owing to Bajaja fiance elevated provisioning impacted PAT, however, to some extent insurance business manage to absorb hit. PAT Plunge 18% YoY for Q2FY21.

In General Insurance segment gross written premium (GWP) fell 2.8% to Rs.4156cr, owing to the decline in sales of commercial vehicle and travel insurance policies. The sequentially Combined ratio improved by 20bps to 97.4%.

In the insurance segment, it reported new business premium growth of 11% YoY to Rs.1,372cr. Currently, Bajaj finserve trades at 15.5x on trailing earnings.

Shares of BAJAJ FINSERV LTD. was last trading in BSE at Rs.5905.9 as compared to the previous close of Rs. 5950.45. The total number of shares traded during the day was 13651 in over 3415 trades.

The stock hit an intraday high of Rs. 6010 and intraday low of 5738.15. The net turnover during the day was Rs. 80620037.

Source : Equity Bulls

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