India's Bajaj Housing Finance drops for second straight session after bumper listing

Bajaj Housing Finance

19/09/2024 10:18

** Shares of Bajaj Housing Finance  BAJO.NS  are down around
7.5% at 160 rupees  
    ** More than 17 mln shares traded in multiple block deals in
price range of 156.29 - 173.3 rupees/shr - all at a discount to
the last close price of 173.66 rupees 
    ** BAJO shares listed at 150 rupees on Monday, more than
double its IPO price of 70 rupees, making it the fourth-best
major listing in India this year; this was followed by a 10%
rise on Tuesday
    ** Since then, stock has fallen for two straight sessions -
dropping around 12% in the period
    ** Since BAJO's listing, rival LIC Housing  LICH.NS  and PNB
Housing  PNBH.NS  have dropped about 9% and 11%, respectively
    

 (Reporitng by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))