Bajaj Housing Finance Share Price Soar: PhillipCapital Sets ₹210 Target – What’s Next?
Bajaj Housing Finance has made significant waves in the stock market following its recent IPO. As of September 17, 2024, the share price of Bajaj Housing Finance has seen remarkable performance, hitting an upper circuit limit of ₹181.50 during trading. This follows a stellar debut on the stock exchanges, where it was listed at ₹150, representing a 114% premium over its issue price of ₹70.
Main Points
Bajaj Housing Finance: A Stellar Market Debut
On September 16, 2024, Bajaj Housing Finance shares were introduced to the market with a bang. The stock opened at ₹150 and quickly surged to ₹165 by the end of the trading day, reflecting a staggering 135% gain from its IPO price. The IPO itself was a massive success, garnering bids worth ₹3 lakh crore against an issue size of ₹6,560 crore, marking it as one of the largest subscriptions in Indian history.
As of today, September 17, Bajaj Housing Finance shares have continued their upward trajectory. The stock initially opened at ₹165 and quickly reached ₹181.50, representing a 10% increase from the previous close. Analysts are optimistic about the stock’s potential for further growth.PhillipCapital has initiated coverage on Bajaj Housing Finance with a ‘buy’ rating and set a target price of ₹210 per share. This suggests an additional upside of approximately 27% from current levels. The brokerage emphasizes the company’s strong position in the housing finance sector, particularly focusing on loans within the ₹50 lakh range, which constitutes about 65% of India’s home loan market.
Several factors contribute to the positive sentiment surrounding Bajaj Housing Finance:
- Strong IPO Performance: The overwhelming response to its IPO has instilled confidence among investors.
- Market Position: Bajaj Housing Finance is well-positioned in a lucrative segment of the housing finance market.
- Analyst Recommendations: Positive ratings from financial analysts enhance investor confidence and interest in the stock.
Analysts suggest that investors who received shares during the IPO should hold onto them for long-term gains. For those who missed out on the IPO, cautious buying is recommended with a focus on long-term growth potential.
Market capitalization for Bajaj Housing Finance has soared to approximately ₹1.37 lakh crore following its listing day performance. This valuation is nearly 2.4 times higher than what was estimated at the IPO allotment price.
The outlook for Bajaj Housing Finance appears bright as it continues to capitalize on favorable market conditions and strong demand for housing loans. Analysts predict that within three years, the company’s balance sheet could exceed ₹2 lakh crore.
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.
