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Bajaj Housing Finance share price rose over 3 percent in the early trade on Wednesday, September 18 extending its gain for the consecutive third trading session today.
Bajaj Housing Finance stock fell to its intraday low of Rs 171.16 per share on the BSE, down by 5.68 percent. However, shortly after it pared its losses to extend the gains. At the time of publishing, the stock was trading at Rs 184.84 per share on the BSE, 1.85 percent at 9.35 am.
The bull frenzy around Bajaj Housing Finance, which saw overwhelming demand in the primary market and a blockbuster debut on the bourses shows no signs of slowing down. With the stock soaring 159 percent above its issue price of Rs 70, the Street is largely bullish, predicting an additional 30 percent upside from current levels (Rs 173). Brokerages have also initiated ‘buy’ calls, citing management’s strong pedigree to position it as the next ‘HDFC’ coupled with its superior asset quality and AUM growth versus peers.
Phillip Capital also sees a 16 percent upside for Bajaj Housing Finance. They highlighted that the company’s popular loan size of Rs 50 lakh, which covers nearly 65 percent of home loan originations in India will be a gamechanger. They project that in the next three years, Bajaj Housing’s balance sheet could grow to Rs 2 lakh crore from present Rs 81,830 crore (as of FY24), valuing it at 6.5 times its expected book value for September 2026. The brokerage firm was the first to initiate a ‘buy’ rating on the stock
Narinder Wadhwa, Managing Director of SKI Capital, has set a target price of Rs 225 for Bajaj Housing Finance, driven by confidence in its future earnings and growth. He believes the company could benefit from the HDFC-HDFC Bank merger by tapping into the land financing market previously dominated by HDFC.
Phillip Capital also sees a 16 percent upside for Bajaj Housing Finance. They highlighted that the company’s popular loan size of Rs 50 lakh, which covers nearly 65 percent of home loan originations in India will be a gamechanger. They project that in the next three years, Bajaj Housing’s balance sheet could grow to Rs 2 lakh crore from present Rs 81,830 crore (as of FY24), valuing it at 6.5 times its expected book value for September 2026. The brokerage firm was the first to initiate a ‘buy’ rating on the stock.
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