Bajaj Housing Finance created a stir in the stock market and broke records on the very first day. The price of the company’s shares doubled, touching the upper circuit limit and its market cap exceeded Rs 1 lakh crore (Rs 1 trillion) in just one day. This made Bajaj Housing Finance the first housing finance company to reach this milestone.
It is also the fourth company to achieve a market cap of Rs 1 lakh crore for the first time in 2021 after Paytm, Nykaa and Zomato.
Current market value of Bajaj Housing Finance
As of Monday, the market value of Bajaj Housing Finance is Rs 1.37 lakh crore. In comparison, the value of Housing and Urban Development Corporation is Rs 49,477 crore, LIC Housing Finance is Rs 37,435 crore and other companies like PNB Housing Finance, Aadhar Housing Finance, Aptus Value Housing Finance and AAVAS Financiers have a lower market cap.
Comparison with Paytm, Nykaa and Zomato
Bajaj Housing Finance’s market value of Rs 1.37 lakh crore is impressive. Paytm and Nykaa had also reached a market capitalisation of Rs 1 lakh crore on their first day, but Zomato achieved the feat during intraday trading. Zomato shares have performed exceptionally well this year, almost doubling in value and its market capitalisation is now around Rs 2.5 lakh crore.
Challenges for Paytm and Nykaa
Despite their initial success, Paytm and Nykaa have seen their share prices decline significantly since their debut. Paytm shares fell 27% on the day of listing and now have a market capitalisation of Rs 43,428 crore, while the share price is Rs 682. Nykaa shares have fallen nearly 44% since listing, with a current market value of Rs 58,815 crore.
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