Bajaj Housing Finance Debut Skyrockets Bajaj Group’s Market Capitalisation, Igniting Investor Excitement | Breaking News on Markets
Bajaj Housing Finance’s Stellar Market Debut Narrows Capitalization Gap with Adani Group
Last Updated: Sep 16, 2024 | 11:34 PM IST
Bajaj Housing Finance Ltd (BHFL) made a remarkable market debut on Monday, significantly closing the market capitalization (mcap) gap with the Adani Group. BHFL’s mcap soared to Rs 1.37 trillion, more than doubling its IPO price-based valuation of approximately Rs 58,300 crore. This surge contributed over 10% to the Bajaj Group’s total mcap, jumping from Rs 12.1 trillion on Friday to Rs 13.6 trillion on Monday, marking a 9.3% increase.
In contrast, the Adani Group, ranked third in terms of market value, saw a modest 2.1% increase in its mcap to Rs 16.7 trillion on Monday. The Tata Group continues to lead as the nation’s largest business conglomerate with an mcap of Rs 34.7 trillion, slightly down from Rs 34.8 trillion on Friday. The Mukesh Ambani-led group follows, with its mcap marginally dipping to Rs 22.68 trillion from Rs 22.71 trillion on Friday.
Meanwhile, the Sunil Mittal family-led Bharti Group retains its fifth position with an mcap of Rs 12.1 trillion, unchanged from Friday. The AV Birla Group stands next with an mcap of Rs 7.95 trillion, a slight decrease from Rs 7.96 trillion on Friday.
Within the Bajaj Group, Bajaj Finance leads with an mcap of Rs 4.55 trillion, followed by Bajaj Auto at Rs 3.26 trillion and Bajaj Finserv at Rs 2.97 trillion. Bajaj Housing Finance, a subsidiary of Bajaj Finance, underpins the overall group’s market strength. Bajaj Holdings, the listed holding company, remains the primary promoter of Bajaj Finserv with a 39% stake as of June’s end.
Original Story https://www.business-standard.com/markets/news/bajaj-housing-finance-debut-boosts-bajaj-group-s-market-capitalisation-124091601332_1.html
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