Bajaj Housing Finance Share Price Analysis: Is Rs 149.70 the Right Time to Buy After a 135% IPO Surge?
Bajaj Housing Finance Ltd’s share price has been a topic of interest in the financial markets. As of October 8, 2024, the share price stands at Rs 149.70, reflecting a significant increase of 9.99% from previous levels. This surge comes after a period of notable volatility, particularly following its recent initial public offering (IPO) where it debuted with remarkable gains.
Main Points
- 1 Current Bajaj Housing Finance Share Price Market Performance
- 2 Bajaj Housing Finance Share Price Key Financial Metrics
- 3 Growth in Assets Under Management (AUM)
- 4 Loan Book Growth
- 5 Bajaj Housing Finance Share Price Trading Volume and Market Sentiment
- 6 Technical Analysis and Bajaj Housing Finance Share Price Targets
- Current Share Price: Rs 149.70
- Market Capitalization: Approximately Rs 1,27,337 crore
- 52-Week High: Rs 188.45 (reached on September 18, 2024)
- 52-Week Low: Rs 147.00 (recorded on September 16, 2024)
The stock has shown resilience since its IPO, where it initially surged over 135%, hitting an all-time high of Rs 188.50. However, recent trading sessions have seen some profit booking, with the stock stabilizing around the Rs 150 mark.
Bajaj Housing Finance Ltd has reported strong financial performance metrics that are crucial for investors:
- Earnings Per Share (EPS): Rs 2.10
- Price-to-Earnings (P/E) Ratio: 72.82
- Book Value: Rs 21.95
- Return on Equity (ROE): Approximately 15.2%
These figures indicate a robust financial health, although the high P/E ratio suggests that the stock may be overvalued compared to its earnings.
Growth in Assets Under Management (AUM)
In a recent business update, Bajaj Housing Finance announced that its AUM surpassed Rs 1 lakh crore, growing by 26% year-on-year to reach Rs 1,02,550 crore as of the end of September 2024. This growth is indicative of the company’s expanding loan portfolio and increasing market presence.
Loan Book Growth
The company reported that its loan assets stood at nearly Rs 89,860 crore, marking a significant increase from the previous year. The new loan book grew by 14% year-on-year, with 9.69 million loans booked in Q2FY25 compared to 8.53 million loans in Q2FY24.
The trading volume for Bajaj Housing Finance has been substantial, with over 23 lakh shares traded recently, reflecting strong investor interest. The stock’s performance has attracted attention from various brokerages, many of which recommend a “buy” rating based on its growth potential and market position.
Analysts have been closely monitoring key support and resistance levels for Bajaj Housing Finance:
- Support Level: Rs 147
- Resistance Level: Rs 165
Market analysts suggest that if the stock breaks through the resistance level of Rs 165, it could signal further upward momentum.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
