Bajaj Housing Finance shares have had some ups and downs since their debut. The price was listed on September 16 at ₹150 per share, which was more than two times the issue price of ₹70. The shares first grew, getting a rate of about ₹188.45 on September 18. This change increased the company’s market capitalization to about ₹1.5 lakh crore.
However, some profit-taking observed the excitement. On Wednesday, the shares declined by 9%, dropping from a height of ₹188.45 to a low of ₹171.16. The fall continued on Thursday, too, with the stock falling another 7.3% to ₹161.00 on the BSE.
After the last two trading sessions, Bajaj Housing Finance shares have dropped more than 11%.
Despite this drop, the stock has performed strongly overall. It has risen by 5% in the last month, 22% over the last three months, and 35% in the past year.
It trades at a 9% and 4% discount to TCS and Infosys, which is less than its five-year historical average. The stock is valued at 26 times its evaluated FY2026 earnings.
Kotak Institutional Equities recently depreciated Bajaj Housing Finance from an ‘add’ to a ‘reduce’ rating, mentioning full valuations and some growth challenges.
They commented that while the company has a diversified portfolio and strong cash generation, there are headwinds, like the anniversary of the Verizon deal and modest deal wins in current quarters. These factors contribute to little visibility for growth in FY2026.
Adding to the mix, PhillipCapital valued the stock at 6.5 times the September 2026 book value and suggested a target price of ₹210. The Bajaj Housing Finance IPO, which ran from September 9 to September 11, had attracted bids worth ₹3 lakh crore, which shows a strong investor interest.
While Bajaj Housing Finance has shown profits since its listing, current profit booking and valuation problems have shown to a withdrawal in its share price.
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