Bajaj Housing Finance Slips to ₹128.98 After Flat Start as NBFC Stocks Face Resistance
Bajaj Housing Finance dipped 0.63% to ₹128.98 on April 17 as NBFC stocks showed signs of cooling amid muted market sentiment and profit booking.
Key Highlights:
Bajaj Housing Finance Ltd witnessed a 0.63% dip in early trading on April 17, closing at ₹128.98. The stock slipped marginally after a flat opening, reflecting mild pressure in the non-banking financial company (NBFC) space amid cautious investor mood ahead of quarterly earnings.
Intraday Price Summary
- Open: ₹129.80
- High: ₹130.50
- Low: ₹128.00
- Close: ₹128.98
- Previous Close: ₹129.80
The stock opened flat and briefly touched ₹130.50 before pulling back below ₹129 due to early profit booking. A small recovery was seen late morning, but momentum remained weak.
Valuation Metrics & Market Data
- Market Cap: ₹1.07 lakh crore
- P/E Ratio: 48.87
- Dividend Yield: Nil
- 52-Week High: ₹188.50
- 52-Week Low: ₹103.10
With a P/E of 48.87, Bajaj Housing Finance continues to trade at premium valuations, supported by its strong asset quality and affiliation with Bajaj Finserv. However, the absence of dividends and cautious sector outlook are keeping investors at bay in the short term.
Why Did Bajaj Housing Finance Decline Today?
Key reasons behind today’s downward move:
- Lack of fresh positive triggers in the NBFC sector.
- Weakness in broader financial indices due to global cues and FII outflows.
- Technical resistance near ₹130 led to intraday selling.
- Uncertainty ahead of Q4 results kept buying interest subdued.
Analyst View: ₹128 Support Critical for Short-Term Bulls
According to technical charts:
- ₹128 is a crucial short-term support; a breakdown could open downside toward ₹126.
- Resistance remains near ₹131, beyond which bullish momentum may resume.
- Volumes remained average, signaling sideways consolidation.
What This Means for You
If you’re a trader:
- Best to avoid until breakout above ₹131 or signs of rebound from ₹128 are clear.
- Intraday range: ₹128–₹131 with tight stop-losses.
If you’re an investor:
- Strong parentage (Bajaj Finserv Group) and solid credit quality keep long-term prospects intact.
- Can be accumulated gradually on dips for housing finance sector exposure.
How to Take Action
- Monitor Q4 earnings release timeline and credit growth commentary.
- Track RBI updates on interest rate directions and NBFC lending norms.
- Compare with peers such as LIC Housing Finance, HDFC Ltd, and PNB Housing.
Who Will Be Affected
- Retail investors focusing on financials and real estate-linked stocks.
- NBFC-focused mutual funds and PMS portfolios.
- Short-term positional traders playing volatility in the housing finance space.
Bajaj Housing Finance Closes at ₹128.98 – Mild Correction Before Earnings Watch
The Bajaj Housing Finance share price closed slightly lower at ₹128.98 on April 17 as the NBFC sector faced subdued action. While valuations remain rich, long-term confidence in the stock remains strong due to its steady growth record. Investors await earnings updates and policy direction for the next leg of movement.
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