Bajaj Housing Finance Shares: The IPO of Bajaj Housing Finance, a company of Bajaj Group, has been listed with a bang. It has given more than double the profit on the day of listing. Also, it has closed at Rs 165 today by setting an upper circuit. The issue price of the IPO was Rs 70. In such a situation, it has jumped by Rs 95 on Monday itself. Along with this, the market cap of the company has also crossed Rs 1 trillion in a single day. Now the big question arises whether to sell it for the time being and earn profit or hold it and expect more profits. Let us answer all your questions here.
Listing happened at 114% premium beating GMP
Shares of Bajaj Housing Finance have been listed at a premium of 114 per cent, leaving their grey market price (GMP) far behind. On Sunday, the GMP of the company’s IPO had come down sharply to Rs 69. In such a situation, it was being estimated that its listing would be at Rs 139. However, the company’s shares were listed on the stock exchange at Rs 150. On Monday, its 69.762 crore shares were sold on BSE and NSE. The stock has hit an upper circuit of 10 per cent on the very first day. By evening it had given a return of 137 per cent. On Monday, BSE Sensex and NSE Nifty also closed with a jump.
Investors should wait, it can become a long term investment
Nipun Lodha, director of PL Capital, said that the business of Bajaj Housing Finance has grown by about 30 percent in a year. It may grow like this in the future as well. According to the report of Business Standards, investors should wait for some time for now. Bajaj Group’s IPO has come after a long time. Bajaj Housing’s stock can become a long term investment for you. It is expected to rise further in the coming days. However, some experts say that at this rate you can earn profit by selling some shares. It is a subsidiary of Bajaj Finance, which is counted among the best NBFCs.
Disclaimer: The information provided here is for information purposes only. It is important to note here that investing in the market is subject to market risks. Always seek expert advice before investing as an investor. ABPLive.com never advises anyone to invest money here.
Read this also
Ford India: Ford is coming back! Will open its Chennai plant and provide thousands of jobs
