Bajaj Housing Finance Stock Hits 52-Week Low as Shares Drop 9%: Key Factors Behind the Decline
Bajaj Housing Finance shares experienced a significant decline on Tuesday, reaching a 52-week low amid speculation of a substantial block deal. The company’s stock plummeted by 9%, settling at Rs 94.90 on the Bombay Stock Exchange (BSE). This drop followed reports that its promoter, Bajaj Finance, had offloaded a 2.35% equity stake valued at approximately Rs 1,890 crore. The stock’s performance on the National Stock Exchange (NSE) mirrored this trend, with a decrease of 6.48% to Rs 97.77.
Block Deal Details
Reports indicate that around 19.5 crore shares of Bajaj Housing Finance were traded in the block deal at a price of Rs 97 per share. Earlier speculation suggested that the transaction’s floor price was set at Rs 95 per share, representing a 9% discount from the stock’s previous close of Rs 104.59 on the NSE. The proposed deal size is expected to involve approximately 16.6 crore equity shares. Despite this sell-off, Bajaj Finance maintains a substantial stake in Bajaj Housing Finance, holding 88.70% of the company, which translates to over 739 crore equity shares.
Financial Performance
Despite the recent stock decline, Bajaj Housing Finance has reported steady financial performance. For the July to September quarter of FY26, the company recorded a net profit of Rs 643 crore, reflecting an 18% increase from Rs 546 crore during the same period last year. Additionally, quarterly revenue rose to Rs 2,755 crore, marking a 14% increase from Rs 2,410 crore a year earlier. On a sequential basis, profit after tax grew by 10% from Rs 583 crore in Q1FY26, while revenue increased by 5.3% from Rs 2,616 crore recorded in the previous quarter.
Stock Market Trends
Since its market debut on September 16, 2024, Bajaj Housing Finance’s stock has seen a decline of 23% over the past year. Currently, it is trading below both its 50-day and 200-day simple moving averages, which stand at Rs 109 and Rs 116, respectively. Technical indicators suggest that the stock is in deep oversold territory, with the Money Flow Index hovering around 23, significantly below the 30 level typically used to indicate oversold conditions. The company’s initial public offering (IPO) of Rs 6,560 crore had garnered substantial interest, with the public issue being oversubscribed 67.43 times, and retail investors bidding 7.4 times their allotted quota at an IPO price range of Rs 66–70 per share.
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