Shares of Bajaj Finance hit an intraday low of ₹ 7,347.10, while those of Bajaj Finserv hit a low of ₹ 1,855.30.
Meanwhile, Bajaj Housing Finance shares made a stellar debut, listing at a 114% premium. The stock debuted at Rs 150 on both BSE and NSE, while the issue price was Rs 70.
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Master Capital Services said, “Investors should consider investing in Bajaj Housing Finance for the medium to long term given its strong growth, wide presence in the housing finance industry, prestigious group and management legacy, and competitive valuations compared to peers.”Shivani Nyati, Wealth Head, Swastika Investmart said, “Bajaj Housing Finance has recorded consistent growth in both revenues and profits, reflecting favourable financial metrics. The combination of strong financials, an iconic brand and immense investor interest has positioned Bajaj Housing Finance for a potential success story.”
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 the purchase and renovation of residential and commercial properties.
For FY 2023-24 the company reported a net profit of Rs 1,731 crore, up 38% from Rs 1,258 crore in FY 23. Net income for the same period grew 34% year-on-year to Rs 7,618 crore.
It is also classified as a top-level NBFC by RBI in India. Its wide range of mortgage products include home loans, loan against property, lease rental discounting and developer financing.
At around 11 am, Bajaj Housing Finance shares were trading 4.8% higher at Rs 157.17 on the BSE.
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