Bajaj Finance Shares Lead Sensex Gainers Amid IPO Speculation

Synopsis: Bajaj Finance and Bajaj Finserv shares surged, making them the top gainers on the Sensex, amid expectations surrounding the upcoming IPO of Bajaj Housing Finance. The company aims to raise Rs7,000 crore through this IPO, scheduled for the first half of September. The positive market sentiment has bolstered the stocks, with Bajaj Finance rising by 3.74% and Bajaj Finserv by 3.35%.

Bajaj Finance and Bajaj Finserv were the top performers on the Sensex, driven by investor excitement over the anticipated initial public offering (IPO) of Bajaj Housing Finance, a subsidiary of Bajaj Finance. Reports indicate that Bajaj Housing Finance is expected to launch its Rs7,000 crore IPO in early September, a significant event that has propelled the stocks of its parent companies.

On Thursday, Bajaj Finance shares rose by 3.74% to Rs7,158.30, boosting its market capitalization to Rs4.39 lakh crore. Similarly, Bajaj Finserv's shares hit a 52-week high of Rs1,771.50, reflecting a 3.35% increase, with its market capitalization climbing to Rs2.80 lakh crore.

Bajaj Finance's Relative Strength Index (RSI) currently stands at 59.8, indicating that the stock is neither oversold nor overbought, a factor that has kept investor confidence steady. Despite trading below several key moving averages, which typically signals a bearish trend, the stock has gained momentum due to the IPO news.

The IPO will include a fresh issue of shares worth Rs4,000 crore and an offer-for-sale of Rs3,000 crore by Bajaj Finance. The proceeds from the fresh issue are expected to strengthen Bajaj Housing Finance’s capital base for future lending needs.

This IPO is a crucial development as Bajaj Finance holds a 100% stake in Bajaj Housing Finance, while Bajaj Finserv owns a 51.34% stake in Bajaj Finance. The upcoming listing on both BSE and NSE has created significant buzz in the market, further fueling the upward trajectory of Bajaj Finance and Bajaj Finserv shares.

Disclaimer: The information provided is based on current market trends and reports. Please consult with a financial advisor before making any investment decisions.