Bajaj Housing Finance stock price: Share tumbles 9% to hit 52-week low; here’s what triggered the fall

Bajaj Housing Finance shares tumbled on Tuesday, hitting 52-week low amid buzz of a block deal.The firm’s stock price tumbled 9% to reach Rs 94.90 on the BSE following reports of a large block deal in which the firm’s promoter, Bajaj Finance, is believed to have offloaded 2.35% equity stake, valued at around Rs 1,890 crore.The firm traded at Rs 97.77, down 6.48%, on the National Stock Exchange, at 11:30. On BSE too, the firm traded at a loss of 6.36%, at Rs 97.85.According to reports cited by ET, roughly 19.5 crore shares of the company were exchanged in the block deal at Rs 97 per share. Earlier speculations suggested that the floor price for the transaction was likely set at Rs 95 per share, implying a 9% discount to the stock’s previous close of Rs 104.59 on the National Stock Exchange (NSE). The proposed deal size would involve around 16.6 crore equity shares.At present, Bajaj Finance retains a significant holding in Bajaj Housing Finance, owning 88.70% of the firm, amounting to more than 739 crore equity shares.Meanwhile, the lender has been reporting steady financial performance. For the July–September quarter of FY26, Bajaj Housing Finance posted a net profit of Rs 643 crore, marking an 18% rise from Rs 546 crore in the same period last year. Quarterly revenue climbed to Rs 2,755 crore, up 14% from Rs 2,410 crore a year earlier. Sequentially, profit after tax grew 10% from Rs 583 crore in Q1FY26, while revenue increased 5.3% from Rs 2,616 crore recorded in the April–June quarter, as reported by ET.Bajaj Housing Finance listed on the stock market on September 16, 2024. Since then, the stock has fallen 23% over the past 12 months and is currently trading below both its 50-day and 200-day simple moving averages of Rs 109 and Rs 116, respectively. Technical indicators also show the counter in deep oversold territory, with the Money Flow Index standing near 23, well below the 30 level generally used to flag oversold conditions.The company’s Rs 6,560 crore IPO had attracted significant demand, with the public issue subscribed 67.43 times. Retail investors had placed bids amounting to 7.4 times their allotted quota, against an IPO price band of Rs 66–70 per share.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)