Bajaj Finance to sell 2% stake in Bajaj Housing Finance in block deal: Report

Synopsis Bajaj Finance may offload a 2% stake in Bajaj Housing Finance via a block deal at a 9% discount. The stock remains oversold despite solid Q2 profit, revenue and NII growth, following a weak post-listing performance. Bajaj Housing Finance could see a block deal on Tuesday where promoter Bajaj Finance may sell a 2% stake in the company, according to a report. The offer floor price is likely set at Rs 95 per share, a 9% discount over today's closing price of Rs 104.59 on the NSE. According to an ET Now report, 16.6 crore shares will be on the block. The promoter entity currently holds 88.70% stake in Bajaj Housing Finance which accounts for over 739 crore equity shares. Listed on September 16, 2024, shares of Bajaj Housing Finance have tanked 23% in the past 12 months and are currently trading below their 50-day and 200-day simple moving averages of Rs 109 and 116, respectively, according to Trendlyne data. The stock is in strongly oversold zone with its MFI, hovering near the 23-mark. A number below 30 is considered oversold while above 70 is seen as overbought. Bajaj Housing Finance's Rs 6,560 crore IPO created a lot of buzz around its launch time. The issue was subscribed 67.43 times with retail investors quota receiving bids around 7.4 times. The company had set the price band at Rs 66 to Rs 70 per share. Live Events The company's net profit of Rs 643 crore in the September-ended quarter recorded an 18% jump from Rs 546 crore reported in the year-ago period. Its revenue in the quarter under review stood at Rs 2,755 crore, up 14% versus Rs 2,410 crore posted by the company in the corresponding quarter of the last financial year. The profit after tax (PAT) jumped 10% on a sequential basis compared to Rs 583 crore in Q1FY26, while the topline increased by 5.3% on a quarter-on-quarter basis versus 2,616 crore reported in the April-June quarter of FY26. The company delivered a 34% growth in its net interest income (NII) in Q2FY26 at Rs 956 crore versus Rs 713 crore in the year-ago period. The net interest margins (NIMs) stood at 4%, flat on a sequential basis but down by 10 bps compared to 4.1% in the year-ago period. (Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.) (You can now subscribe to our ETMarkets WhatsApp channel) (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price ...moreless Nerves of steel: The slump has stabilised, but recovery remains elusive The pipeline reform that may redraw India’s energy map in favour of private cos AI is forcing a rethink. Can Indian IT finally build a serious corporate VC muscle? Why Leyland and Iveco stand between Tata Motors' return to glory Stock Radar: Coromandel International stock showing signs of rebound; check target & stop loss ET Prime Special Series - Part 6: Management’s application of altered accounting rules, some right… some wrong 1 2 3