Bajaj Finance shares in focus as NBFC to acquire 26% stake in Pennant for Rs 268 crore in cash deal
Summary
Bajaj Finance would acquire 5,71,268 compulsorily convertible preference shares (Series A CCPS) of face value of Rs 100 each. Bajaj Finance suggested December 30 as an indicative time period for completion of the acquisition "subject to satisfaction of the conditions to be set out in the definitive agreements to be entered." It also along with strong new customer acquisition (3.6 million – second highest in its history), IIFL Secuities noted. We expect credit costs to inch up to 165 bps (up 12bps QoQ) partially offset by lower opex as benefits of operating leverage play out. Also read: GIFT Nifty down 5 points: Asian markets, crude oil prices, dollar movement, Q2 earnings & more Also read: HDFC Bank share price targets see revisions post Q2 results; heres what analysts say on most-valued bank