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Bajaj Housing Finance shares listing: How Bajaj twins reacted to stellar market debut

Bajaj Housing Finance shares listing: How Bajaj twins reacted to stellar market debut

Bajaj Housing Finance Shares Listing today: Buoyed by the prospects of strong listing, share of Bajaj Finserv, the promoter of Bajaj Housing Finance, hit a 52 week high on BSE today.

Aseem Thapliyal
Aseem Thapliyal
  • Updated Sep 16, 2024 11:18 AM IST
Bajaj Housing Finance shares listing: How Bajaj twins reacted to stellar market debut shares of Bajaj Housing Finance were commanding a grey market premium (GMP) of Rs 73-75 per share.

Bajaj Housing Finance Shares Listing: Shares of Bajaj Finserv hit a fresh 52-week high on Monday, a day when Bajaj Housing Finance shares made a stellar listing on BSE and NSE. Bajaj Housing Finance shares listed on BSE at Rs 150, a 114% premium to the IPO price of Rs 70 per share. Ahead of the much-awaited listing, shares of Bajaj Housing Finance were commanding a grey market premium (GMP) of Rs 73-75 per share.

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Buoyed by the prospects of strong listing, share of Bajaj Finserv, the promoter of Bajaj Housing Finance, hit a 52 week high of Rs 1920.85 against the previous close of Rs 1893.75 on BSE. Market cap of Bajaj Finserv climbed to Rs 2.98 lakh crore. The large cap stock opened higher at Rs 1,900 today. Bajaj Finserv stock trades higher than 5-day, 20-day and 50-day moving averages but lower than 100-day and 200-day moving averages.

In a year, the stock has gained 21% and has risen 11 per cent in 2024.

Total 0.81 lakh shares of the firm changed hands amounting to a turnover of Rs 15.26 crore on BSE. The stock hit a 52-week low of Rs 1419 on June 4, 2024. 

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Shares of Bajaj Finance too rose 1.09% to Rs 7,680 post the stellar listing on BSE and NSE today. 

Bajaj Finance stock is trading above the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages. This signals the NBFC stock is trading in a bullish range.

Total 0.36 lakh shares of the firm changed hands amounting to a turnover of Rs 27.28 crore on Monday.

Bajaj Finance's relative strength index (RSI) stands at 72.3 which signals the stock is trading in the overbought zone. A level below 30 is defined as oversold while a value above 70 is considered overbought. Bajaj Finance stock has a one-year beta of 1, indicating average volatility during the period. 

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Bajaj Housing Finance share sale was held between September 9-11. The price band of Bajaj Housing Finance IPO  stood at Rs 66-70 per share. Lot size of the IPO was 214 shares. The company raised Rs 6,560 crore via its primary offering. This included a fresh share sale of Rs 3,560 crore and an offer-for-sale (OFS) worth Rs 3,000 crore by Bajaj Finance.

Incorporated in 2008, Bajaj Housing Finance is a non-deposit-taking housing finance company (HFC) registered with the National Housing Bank (NHB) since 2015 and has been offering mortgage loans since the financial year 2018. It is part of the Bajaj Group, a diversified group of companies with interests in various sectors.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Sep 16, 2024 10:42 AM IST
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