Bajaj Finance shares reached a day’s low of Rs 7,347.10, while Bajaj Finserv shares dropped to a low of Rs 1,855.30.
Meanwhile, Bajaj Housing Finance shares made a strong debut, listing with a 114% premium. The stock debuted at Rs 150 on both the BSE and NSE, compared to the issue price of Rs 70.
Also read: Northern Arc Capital IPO: Should you subscribe to this Rs 777 crore issue?
“Investors should consider a medium- to long-term investment in Bajaj Housing Finance due to its strong growth, extensive presence in the housing finance industry, reputable group and management heritage, and competitive valuation compared to peers,” said Master Capital Services.“Bajaj Housing Finance has demonstrated consistent growth in both revenue and profit, showcasing favorable financial metrics. The combination of strong financials, a reputable brand, and immense investor interest positions Bajaj Housing Finance for a potential success story,” said Shivani Nyati, Head of Wealth, Swastika Investmart.
Bajaj Housing Finance is a non-deposit-taking housing finance company (HFC) registered with the National Housing Bank since September 2015. It offers customized financial solutions for purchasing and renovating residential and commercial properties.
For the fiscal year 2023-24, the company reported a net profit of Rs 1,731 crore, marking a 38% increase from Rs 1,258 crore in FY23. Net income for the same period rose 34% year-on-year to Rs 7,618 crore.
It has also been classified as an upper-layer NBFC by the RBI in India. Its comprehensive mortgage products include home loans, loans against property, lease rental discounting, and developer financing.
Around 11 a.m., Bajaj Housing Finance shares were trading 4.8% higher at Rs 157.17 on the BSE.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
