New Delhi: The Bajaj Housing Finance IPO garnered a lot of hype. After its listing, the shares of Bajaj Housing Finance gave its investors huge profits. But following that, a period of decline in its shares started. The stock price which reached a high of Rs 188 is now at around Rs 129. On November 18,2024, the stock closed at Rs 129.91.
The continuous decline in the Bajaj Housing Finance share price has increased investor concerns. Now they need clarification about whether they should hold the shares of Bajaj Housing Finance or sell them and exit.
Bajaj Housing Finance share: Buy or sell?
Anshul Jain, Research Head of Laxmishree Invest and Security, has given his opinion on Bajaj Housing Finance shares. According to Jain, there is no problem in regards to the Bajaj Housing Finance stock in the current situation. He said that investors who have a long-term perspective, that is, if they want to invest for five years, then they can buy the counter in the price range of Rs 125 to Rs 115. There is a big support in the stock at Rs 130. The stock’s rock bottom should range between Rs 115 to Rs 125, he further opined.
Bajaj Housing Finance shares can become a multi-bagger
Jain said that the shares of Bajaj Housing Finance are expected to bounce back to Rs 140 to Rs 145 levels soon. But after this, the shareholders might see their share of growth in around 2.5 years. Therefore, if your perspective is long i.e. for five to eight years, then you can buy this stock. Bajaj Housing Finance stock can prove to be a multi-bagger for you in the long term. But if you want to invest for two to three months, then this stock will go from Rs 140 to Rs 145, the market expert said.
The stock movement of Bajaj Housing Finance
Shares of Bajaj Housing Finance have fallen by more than five per cent in the last five days. At the same time, this stock has declined by more than 7 per cent in a month. The 52-week high of the stock is Rs 188.50 and the low is Rs 128.17. The relative strength index (RSI) of the stock is 35.8. RSI below 30 is considered oversold and above 70 is considered overbought.
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After its listing, the shares of Bajaj Housing Finance gave its investors huge profits. But following that, a period of decline in its shares started. The stock price which reached a high of Rs 188 is now at around Rs 129. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
