The traders and market enthusiasts are seemingly perplexed if it is a buying opportunity as the shares of Bajaj Housing Finance Ltd have plunged significantly from Rs 173.66 to Rs 160.12, showing a decline of 7.8 percent from its previous close. Since the market opened today and this stock opened with a negative market sentiment, the investors have been confused if it is a buying opportunity or if the stock will continue slipping. Currently, several questions are prevailing in the minds of market enthusiasts and traders about Bajaj Housing Finance shares. However, we have heard from several analysts and market experts at different brokerage firms, about Bajaj Housing Finance. In the following sections, you will also get imperative details about the stocks which will help you in determining the short-term trajectory of Bajaj Housing Finance Ltd. Delve into the details and cater to your query. Swipe down the page for more.
When the market opened on Wednesday, September 25, 2024, the stock of Bajaj Housing Finance Ltd opened at the price of Rs 157.80, indicating the broader market trends and investor sentiment. As the trading day progressed, the stock registered minimal growth and hit the highest price of the day as of yet, at Rs 160.12 which is still 7.8 percent lower than its previous close of Rs 173.66. The significant drop in the share price of Bajaj Housing Finance Ltd has raised questions about investor’s interest and confidence in the company’s business model and future growth prospects. Meanwhile, Bajaj Housing Finance Ltd’s short-term performance trajectory has become an imperative aspect.
- Current Price: Rs 160.12
- Previous Close: Rs 173.66
- Change: -7.80 percent
- Market Capitalization: Rs 133,958 Crores
- 52-Week High: Rs 188.50
- 52-Week Low: Rs 146.00
The stock opened at the price of Rs 161.70 per share, showing a slight recovery from earlier lows but still, it had to cover the significant loss compared to the previous day’s closing price. However, the trading volume has been strong as more than 26 million shares of Bajaj Housing Finance were exchanged on both BSE and NSE, showing active investor interest despite the price drop.
If a trader wants to avoid loss and always make the right decision about any particular stock, he must have knowledge of the financial and technical metrics of that stock. When we talk about the financial metrics of a stock, it means P/E Ratio, Earnings Per Share (EPS), Dividend Yield, ROE (Return of Equity), and Book Value per Share. Bajaj Housing Finance Ltd’s return on equity is currently at 14.15 percent which has improved over the past five years from 11.13 percent. However, the P/E Ratio hints at the possible overvaluation of the stock.
- P/E Ratio: 141.20
- EPS (Earnings Per Share): Rs 1.13
- Dividend Yield: 0 percent
- Book Value per Share: Rs 12.61
The technical standpoint for Bajaj Housing Finance Ltd hints that the investor should maintain the “Hold” status for this stock as its support level is set at Rs 146 and the resistance level is set at Rs 173. Whenever a stock’s price starts declining, the support level comes into focus and when the stock’s price starts soaring, the resistance level becomes crucial.
- Support Level: The immediate support level is around Rs 146, which is close to its 52-week low.
- Resistance Level: A resistance level is identified at Rs 173, where selling pressure has increased recently.
Traders who are willing to invest in Bajaj Housing Finance are advised to closely monitor support and resistance levels as it helps in determining the short-term trading trajectory. Stay tuned to this website for more details and further updates.
Leave a Reply