- Summary:
- Bajaj Housing share price is on the ascent but the momentum could get an upbeat tempo when its quarterly earnings come out.
Bajaj Housing share price edged up on Wednesday ahead of earnings release. The stock was at Rs 131.65 as of press time, up by 0.3% on the day. The stock has been on a strong uptrend in recent times and has accumulated 5.5% in gains in the last five sessions, and up by 4.8% in the last month.
The company has had substantial success at the stock market, considering it listed in mid-September 2024. Currently, Bajaj Housing share price is about 15% above its original listing price of Rs 114, and 87% above the IPO price of Rs 70. The company’s lock in period for 5.291 billion shares ended on April 14 and they have since became available for trading.
That figure translates to 64% of outstanding equity, which, in theory, should add downward pressure on the share price. However, the fact that the stock has stayed afloat afterwards signifies strong investor confidence. According to preliminary earnings released for the quarter ending March 2025, Bajaj Housing AUM rose by 26% YoY to Rs 1.14 lakh crore (approx. $13.7 billion).
Many analysts project that the company will report strong YoY profits for Q1 2025. However, the quarter-on-quarter growth will likely be minimal, going by the weakness witnessed in the Indian economy in that period. However, the company’s loan book remains strong, and a forecast-beating earnings report is not out of the question.
Bajaj Housing Share Price Prediction
Bajaj Housing share price pivots at Rs 128 and the momentum favours the upside to prevail. That momentum will likely face the first resistance at Rs 134. Breaking above that level will signal a strong momentum that could breach that mark and potentially test Rs 139.
On the other hand, breaking below Rs 128 will shift the momentum to the downside. In that case, the first support will likely be at Rs 123. The upside narrative will be invalid if the price breaks below that level. The resulting momentum could extend the downside to test Rs 118.
