Bajaj Finance pips HDFC in m-cap race, now 8th most valued stock – Economic Times

NEW DELHI: Bajaj Finance on Tuesday beat mortgage lender HDFC in terms of market capitalisation to become the eighth-most valued stock on BSE.

Shares of Bajaj Finance rose 1.99 per cent to Rs 6,925. At this price, the stock was commanding a market value of Rs 4,17,989 crore, which was higher than HDFC’s Rs 4,17,211.02 crore.

Housing finance company HDFC was up 0.20 per cent at Rs 2,301.80.

On Monday, the difference in the market capitalisation of the two was Rs 6,330 crore on a closing basis, data compiled from corporate database AceEquity suggests.

Bajaj finance vs hdfcETMarkets.com

Shares of Bajaj Finance have rallied 20 per cent in the last one year compared with an 8 per cent drop in HDFC shares. The BSE Sensex is up 10 per cent during the same period.

The median price targets of 28 analysts stand at Rs 7,910.75 for Bajaj Finance, which suggest a 14 per cent upside potential. Kotak Securities recently recommended a buy on Bajaj Finance with a target price of Rs 7,350.

HDFC, on the other hand, has a median target of Rs 3,207, suggesting a 39.07 per cent upside. Foreign brokerage CLSA has upgraded the stock to ‘buy’, saying risk-reward is incrementally improving.

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