Bajaj Housing Finance shares are one among the 14 stocks who have been included in the FTSE India Index. The announcements were made last month.
Based on a report by Nuvama Alternative and Quantitative Research, Bajaj Housing may receive inflows to the tune of $45 million, while estimates from IIFL Capital’s Alt Desk are for inflows up to $48.4 million.
The overall FTSE rebalancing is likely to result in passive inflows between $1.4 billion to $1.6 billion for the Indian markets.
Bajaj Housing Finance shares will also be in focus next month, on April 15, as that is when its one-year shareholder lock-in period will end.
A note from Nuvama Alternative and Quantitative Research, as many as 529 crore shares of Bajaj Housing Finance, or 64% of its outstanding equity will become eligible to trade as the shareholder lock-in ends.
It needs to be specified that the end of the shareholder lock-in does not mean all the 529 crore shares will be sold that day itself but they only become eligible to be traded.
As many as 50% or five out of the 10 analysts that have coverage on Bajaj Housing Finance have a “sell” recommendation on the stock. Three of them have a “buy” rating, while one analyst has a “hold” call. A consensus estimate of these 10 analysts is projecting a potential downside of 15% for the stock going forward.
Shares of Bajaj Housing Finance ended little changed on Thursday at ₹121.5. The stock is down 35% from its post-listing high of ₹188.5, even as it remains well above its IPO price of ₹70.