The housing finance arena at Dalal Street has a new entrant in the form of Bajaj Housing Finance Ltd. The company, after the bumper IPO that concluded on September 11, got listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Monday, September 16.
The company stocks were listed with a premium of 114 per cent at the price of Rs 150 per share. This is double its issue price of Rs 70 per share.
Now, interestingly, many other players in the housing finance market who are listed on the market have reacted to the news. Major housing finance company stocks dipped in the red in the early hours of the intraday trade on Monday.
LIC Housing Finance Ltd
The shares of the state-run LIC Housing Finance dropped significantly in the intraday trade. At the time of writing, the company stock's decline only intensified. At 10:52 IST, the company shares dropped 5.59 per cent or Rs 40.45, taking the overall value of the share to Rs 682.85 per piece.
PNB Housing Finance Ltd.
Another public sector entity in the housing business, PNB Housing Finance Ltd, also observed a sharp drop in its fortunes. The company shares saw a sudden dip in its value, taking the overall decline in the intraday trade (so far) to 4.91 per cent or Rs 55.85. This took the overall value of shares to Rs 1,081.20 per piece.
Housing And Urban Development Corp Ltd
Another major company owned by the government, the Housing and Urban Development Corp, or HUDCO, also saw a decline in its value. The company shares reached the price of Rs 249.65 per share. This came to pass after a decline of 1.11 per cent or Rs 2.80.
Aadhar Housing Finance Ltd
The private players in the sector were no different, as some of the company shares were trading in red. The relatively new Aadhar Housing Finance Ltd shares also dipped in value. The decline was in the tune of 0.42 per cent or Rs 1.95. This took the overall value to Rs 460.85.
Sammaan Capital Ltd
When we look at Sammaan Capital Ltd, formerly known as India Bulls, the company shares also dropped. Sammaan was reduced to Rs 166.13. This happened after a slump of 1.35 per cent or Rs 2.28 in value.
At the time of writing, the Bajaj Housing Finance Limited shares that were listed on the exchanges on Monday gained by 6.05 per cent or Rs 9.08, jumping to Rs 159.08 per share.
