Tue Sep 17 06:53:15 UTC 2024: ## Market Expert Warns of Caution Amid Bajaj Housing Finance Listing Hype
**New Delhi:** Gaurav Dua, SVP, Head of Capital Market Strategy at Sharekhan by BNP Paribas, has cautioned investors against chasing Bajaj Housing Finance’s stock, citing the strong momentum being driven by “fear of missing out” (FOMO).
Dua suggests waiting for other IPOs in the pipeline instead of buying Bajaj Housing Finance at its current price, which he believes is overvalued at 7-8 times its price-to-book (P/B) ratio. He points to Ola Electric Mobility Ltd, which saw a similar initial surge after listing, followed by a decline, as a cautionary tale.
Dua remains optimistic about Hero MotoCorp Ltd, stating that the stock is an attractive buy at current levels. He cited the company’s strong performance in the rural market, bolstered by a good monsoon, and its ownership of Aether, an EV company planning an IPO, as positive triggers.
The market expert also highlighted the upcoming US Federal Reserve meeting, which could have a significant impact on the market.
Meanwhile, Indian equity benchmarks closed slightly lower today, impacted by declines in automobile, metals, and state-owned lenders. Broader markets, including small- and mid-cap shares, also witnessed losses.
First Piper 