Tue Sep 17 08:00:14 UTC 2024: ## Bajaj Housing Finance Shares Soar: Brokerage Firm Predicts Further Rise

**Mumbai, India:** Bajaj Housing Finance shares have been the talk of the market since their listing, surging to new heights. The company’s stock closed 136% higher on Monday after listing at a premium of 115%. On Tuesday, the share opened with a 10% upper circuit, reaching a high of ₹181.48.

Brokerage firm, PhillipCapital, has initiated coverage on Bajaj Housing Finance with a “buy” recommendation and a target price of ₹210, more than triple its IPO price of ₹70. The firm believes the stock’s momentum will continue, driven by the company’s strong position in the high-ticket home loan market.

With a ticket size of ₹50 lakhs, Bajaj Housing Finance caters to a significant segment of the home loan market, addressing approximately 65% of all home loan originations in India. The company’s increased focus on Lease Rental Discounting (LRD) is also seen as a positive factor.

PhillipCapital estimates that Bajaj Housing Finance will have a balance sheet of ₹2 lakh crore in the next three years, with construction finance contributing 8% to 10% of the total book.

The strong performance has propelled Bajaj Housing Finance to the top of the list of India’s most valuable housing finance companies. With a market capitalization of ₹1,37,406.09 crore, it surpassed Housing and Urban Development Corporation (HUDCO), which now stands at ₹49,476.96 crore. LIC Housing Finance and PNB Housing Finance follow with market caps of ₹37,434.54 crore and ₹27,581.41 crore respectively.

Bajaj Housing Finance’s impressive debut has reinforced investor confidence in the company’s growth potential and its ability to capitalize on the burgeoning Indian housing market.

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