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Bajaj Housing Finance Share Price Soars: Key Levels and Market Insights on September 16, 2024

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Bajaj Housing Finance Ltd. made a remarkable debut on the stock exchanges, with its share price reflecting significant investor enthusiasm. The shares opened at ₹150, which is an impressive 114% premium over the IPO issue price of ₹70. As of today, the share price has reached ₹164.49, showcasing a robust performance in the market.

Current Bajaj Housing Finance Share Price and Trading Performance

As of today, Bajaj Housing Finance’s shares are trading at ₹164.49, with a day’s low of ₹146 and a high of ₹165. This performance indicates strong volatility and investor interest in the stock since its listing. The market capitalization of Bajaj Housing Finance stands at approximately ₹1,10,408 crore, reflecting its stature as a major player in the housing finance sector.

Bajaj Housing Finance Share Price Key Financial Indicators

  • 52-Week Range: The stock has seen a low of ₹70 and a high of ₹165 over the past year.
  • PE Ratio: The price-to-earnings ratio is currently at 10.51.
  • Return on Equity (ROE): The company boasts an ROE of 14.59%, indicating efficient management and profitability.
  • Debt to Equity Ratio: At 5.10, this ratio suggests that the company is heavily leveraged, which is common in the housing finance sector.

IPO Details and Market Response

The IPO for Bajaj Housing Finance raised ₹6,560 crore and was met with overwhelming demand, achieving a subscription rate of nearly 67 times the total shares offered. This high level of interest underscores the market’s confidence in the company’s growth potential and financial health.

Analysts have been optimistic about Bajaj Housing Finance’s prospects. Prashanth Tapse from Mehta Equities noted that investors might consider booking profits if gains exceed expectations but also highlighted that long-term investors should hold onto their shares due to the positive outlook for the housing sector over the next few years.

Bajaj Housing Finance Share Price Market Context

Today’s trading session also saw declines in shares of other housing finance companies following Bajaj Housing Finance’s listing. Stocks such as LIC Housing Finance and PNB Housing Finance fell by up to 6%. This trend may indicate profit-taking or a broader market reaction to the influx of new shares from Bajaj Housing Finance’s successful IPO.

Bajaj Housing Finance Share Price Important Technical Levels

For traders looking at key levels for Bajaj Housing Finance:

  • Support Level: Analysts suggest setting a stop loss around ₹135 as a risk management strategy.
  • Resistance Levels: The current resistance level appears to be around ₹165. If the stock can break through this level, it may continue to rally further.

Bajaj Housing Finance Share Price Company Overview

Bajaj Housing Finance is a wholly-owned subsidiary of Bajaj Finance and has quickly established itself as one of India’s leading housing finance companies since its inception in 2008. It provides a variety of mortgage products tailored for both individual homebuyers and large-scale developers.

The company has reported strong financial metrics recently, with a net profit increase of 38% year-on-year for FY24, reaching ₹1,731 crore. Its net income also grew by 34%, amounting to ₹7,618 crore during the same period.

Bajaj Housing Finance Share Price Future Outlook

With its strong fundamentals and backing from the reputable Bajaj Group, Bajaj Housing Finance is well-positioned to capitalize on India’s growing housing market. The increasing demand for housing loans presents opportunities for continued growth in both individual and commercial segments.

As Bajaj Housing Finance continues to expand its operations across India—operating over 215 branches in 20 states—it remains an attractive option for investors looking to tap into the booming housing finance sector.

Investors are advised to keep an eye on market trends and company announcements that could impact share prices moving forward. With today’s strong performance post-listing, Bajaj Housing Finance is set to be a focal point for both short-term traders and long-term investors alike.

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.

Kuldeep Singh

Kuldeep Singh is an experienced Hindi and English news writer with nearly 4 years of experience in the media industry. He loves to read and write news related to technology, automobile and business. He has covered all these sections extensively and presented excellent reports for the readers. Kuldeep Singh has been trying to provide correct and accurate information to the readers on Local Haryana for the last 1 year.

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