Bajaj Housing Finance IPO doubles on listing: Book profit or hold?

Bajaj Housing Finance shares made a bumper debut on the stock exchanges today, riding high on the positive market sentiment.

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Bajaj Housing shares listed at Rs 150 on the BSE, and the National Stock Exchange (NSE), surging 114.28 per cent above the IPO issue price of Rs 70 on Monday.

Roughly 697.62 million shares, together, changed hands on the NSE and the BSE, resulting in the stock hitting 10-per cent upper circuit during the day.

By close, the share commanded a market price of Rs 165 per share, a staggering 137 per cent surge over its issue price. Its market-cap stood at Rs 1.37 trillion. By comparison, the benchmark BSE Sensex ended 98 points (0.12 per cent) higher on the BSE on Monday.

Analysts say the listing reflects investors' unwavering confidence in the company's robust financials, backed by the prestigious Bajaj Group.