The IPO came at ₹ 70, an upper circuit was applied as soon as it opened after listing, experts said – it will give 3 times profit, the price will go up to ₹ 210

Bajaj Housing Finance shares:There is a tremendous buzz about Bajaj Housing Finance shares among stock market investors. The company's shares are in the news even before listing. After getting listed at a 115% premium on last Monday, this stock closed with a gain of 136%. Today, on Tuesday, as soon as this stock opened, it hit an upper circuit of 10% and reached a high of Rs 181.48. Now the brokerage firm believes that the uptrend of Bajaj Housing Finance shares will continue and this stock can reach ₹ 210. Brokerage firm PhillipCapital has recommended 'buy' on the latest listed Bajaj Housing Finance shares and has initiated coverage with a target price of ₹ 210. This is 3 times more than its IPO price of ₹ 70 per share.

what is the detail

Bajaj Housing Finance became the fourth best listing of 2024 after BLS E-Services, Premier Energies and Unicommerce E-Solutions. The company's shares closed at ₹165, up 135%, after listing at a 115% premium to its IPO price on Monday. PhillipCapital believes Bajaj Housing Finance is in a "league of its own", with a ticket size of ₹50 lakh, which is "the sweet spot for many home loan aspirants." PhillipCapital said that with that ticket size Bajaj Housing Finance addresses nearly 65% of all home loan originations in India. Bajaj Housing Finance's increased focus on lease rental discounting (LRD) is a positive. The brokerage believes Bajaj Housing Finance is likely to have a ₹2 lakh crore balance sheet in the next three years, with construction finance accounting for between 8% and 10% of the total book.

Became the country's most valuable housing finance company

Bajaj Housing Finance Limited became the country's most valuable housing finance company on Monday, the day of its listing in the stock market. Due to a sharp rise in the share price, the market capitalization of Bajaj Housing Finance Limited stood at Rs 1,37,406.09 crore at the end of trading. With this, Bajaj Housing Finance became the country's most valuable housing finance company. Housing and Urban Development Corporation (HUDCO) is in second place with a market valuation of Rs 49,476.96 crore. After this, LIC Housing Finance is in third place with a valuation of Rs 37,434.54 crore and PNB Housing Finance is in fourth place with a valuation of Rs 27,581.41 crore.