Bajaj Housing Finance Share Price: Valuation ki tension mein Stock pahuncha naye lows par!

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AuthorAnanya Iyer|Published at:
Bajaj Housing Finance Share Price: Valuation ki tension mein Stock pahuncha naye lows par!
Overview

Arre yaar, Bajaj Housing Finance ka share price ek saal mein **33%** neeche aa gaya hai aur **₹77** ke aas-paas naye lows bana raha hai. Bhale hi JM Financial ne ise 'Add' rating di hai aur target ₹88 rakha hai, par company ki high valuations aur stock ka performance investors ko pareshan kar raha hai.

Toh bhai, Bajaj Housing Finance (BHFL) ke share mein lagatar girewat dikh rahi hai. Pichhle ek saal mein stock 33% tak neeche gir gaya hai aur March 2026 ko toh ₹77.76 ka naya low bana diya. Pehle yeh ₹137 tak gaya tha, toh matlab bada fall hai.

Valuation ka Rona Dhona

Ab sawal yeh hai ki aakhir gir kyon raha hai? JM Financial ne kaha hai ki BHFL mein 28% ka asset growth chal raha hai FY20 se aur unka 'Sambhav' platform bhi acche returns de sakta hai. Isliye unhone 'Add' rating di hai aur target rakha hai ₹88, matlab thoda upside hai. Lekin, JM Financial ne yeh bhi warning di hai ki company ki valuations abhi se hi kaafi high lag rahi hain, jisse short term mein bada jump aana mushkil ho sakta hai.

Baki analysts bhi same hi keh rahe hain, sabka consensus 'Neutral' hai. Kuch toh, jaise MarketsMOJO, 'Sell' karne ki salah de rahe hain. BHFL ke valuations sach mein ajeeb hain. Iska P/E ratio 26.4x se 33.6x ke beech mein hai, jo industry average 12.2x se bohot zyada hai. Price-to-Book ratio bhi lagbhag 3.1x-3.2x hai, jabki dusri badi housing finance companies 0.5x-0.9x aur affordable housing finance peers 1.3x-1.9x par trade kar rahe hain.

Sector Badh Raha Hai, Par Stock Gira

Sector ki baat karein toh Indian housing finance market aane wale time mein badhne wali hai, around 4.9% se 8.54% per annum tak 2034 tak. Companies apna asset growth 15-17% rakhne ki ummeed kar rahi hain FY2026-FY2027 mein. Lekin BHFL ka stock bilkul ulta chal raha hai. Yeh November 2025 se down-trend mein hai aur pichhle teen, paanch, ya das saal mein Sensex ke comparison mein kuch khaas returns nahi de paya hai.

Haaan, BHFL ko Bajaj Group ka support hai, AAA credit rating hai aur asset quality bhi achhi hai (0.3% Gross Stage-3 ratio). Par market shayad future growth ko pehle hi price kar chuka hai. Isliye stock gir raha hai, investors valuations aur bearish trend par zyada dhyan de rahe hain.

Risks mein hai badhti competition, economy slow hone ka dar aur NPAs ka badhna. Company dividend bhi nahi deti (0% yield) aur pichhle saalon mein bhi koi special returns nahi diye hain shareholders ko.

Aane wale Union Budget 2026 se housing finance sector mein reforms ki ummeed hai. BHFL ko bhi competition aur high valuation ke beech mein chalna hoga. Company ko apna asset growth aur efficiency gains ko real shareholder returns mein badalna hoga. Sambhav platform par focus aur asset quality maintain karna achha hai, lekin abhi stock ka premium valuation aur bearish sentiment dekar future uncertain lag raha hai.

Disclaimer:This content is for informational purposes only and does not constitute financial or investment advice. Readers should consult a SEBI-registered advisor before making decisions. Investments are subject to market risks, and past performance does not guarantee future results. The publisher and authors are not liable for any losses. Accuracy and completeness are not guaranteed, and views expressed may not reflect the publication’s editorial stance.