Rs 30 DIVIDEND Share: JP Morgan OVERWEIGHT on THIS NIFTY50 stock

rs 30 dividend share: jp morgan overweight on this nifty50 stock bajaj finance

Bajaj Finance share price: Stocks of Bajaj Finance Limited will be in focus today i.e. March 28 as its subsidiary – Bajaj Housing Finance has started the groundwork for an Initial Public Offering (IPO). According to multiple reports, the company is in talks with several investment banks to raise a valuation of around 9-10 billion US Dollars. According to the RBI’s revised regulatory framework for NBFCs, Bajaj Housing Finance falls under the Upper Layer of non-banking financial companies.

On Thursday, the stocks of Bajaj Finance climbed by less than 1 per cent. The stocks opened at Rs 7,032.10 vs the previous closure of Rs 7,022.75 on NSE. Around 9:20 am, the shares traded at Rs 7,072.80 apiece, up by Rs 50.05 points or 0.71 per cent.

Bajaj Finance share price target 2024:

JPMorgan has maintained an Overweight rating with a target price of Rs 8500. “USD 9.5 billion valuation of housing finance subsidiary implies 26x FY26 PE. The listing could place a hold co-discount of 15 per cent on Bajaj Finance. It would potentially remove a medium-term overhang of a bank conversion by creating two listed NBFCs,” the brokerage firm said.

Bajaj Finance share price history

Bajaj Finance Limited is a constituent of S&P BSE SENSEX. According to BSE analytics (as of March 28), shares of Bajaj Finance gained by 9.03 per cent in the last two weeks. In the past one month, the shares up by 7.37 per cent. However, on a YTD basis, the shares of this NBFC fell by 3.57 per cent and 10.21 per cent in the last six months. In the past 1 year, 5 years and 10 years, the shares climbed by 25.84 per cent, 139.17 per cent and 4072.15 per cent, respectively.

Bajaj Finance Dividend History

Last year, Bajaj Finance Limited announced a dividend of Rs 30 with an ex-date on June 30. Similarly, in 2021 and 2022, the NIFTY50 stock company declared dividends of Rs 10 and Rs 20 with an ex-date on July 8 and June 30, respectively. In 2019 and 2020, the NBFC announced dividends of Rs 6 and Rs 10 with an ex-date on July 11 and March 3, respectively.