Bajaj Housing Finance surged 10% to ₹181.50 in early trading today, hitting the upper circuit limit, following strong positive sentiment fueled by an optimistic analyst report from PhillipCapital. The stock opened at ₹175.50 and reached a high of ₹181.50, continuing its strong momentum from the IPO listing.
Stock Price Details:
- Open: ₹175.50
- High: ₹181.50
- Low: ₹175.00
- Previous Close: ₹165.00
The rally in the stock price is driven by PhillipCapital’s initiation of a “Buy” call with a target price of ₹210 per share. The firm highlighted Bajaj Housing Finance’s strategic focus on home loan aspirants in the ₹5 million range, addressing 65% of home loan originations in India. Additionally, its construction finance book is expected to remain stable, comprising 8-10% of its total portfolio.
Analysts expect the company’s balance sheet to exceed ₹2 lakh crore in the next three years, with benign near-term credit costs further supporting the growth outlook. This positive analyst view has strengthened investor confidence, driving the stock’s upward movement.
Investors are seeing significant gains, and with a strong market position in the housing finance sector, Bajaj Housing Finance is expected to continue its growth trajectory.
