Bajaj Housing Finance announced its second-quarter results on Monday, marking its first quarterly results after the company was listed in September. 

What Happened: Bajaj Housing Finance's net profit rose 21% from the previous year to ₹546 crore. The NBFC's net interest income increased by 13% to ₹713 crore. The company's assets under management (AUM) reached ₹1.03 lakh crore, a 26% increase from the previous year. 

Bajaj Housing Finance was listed on September 16. The company raised ₹6,560 crore in its IPO and was listed at ₹150, indicating a 114% premium over its listing price of ₹70. 

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Brokerage Views: Morgan Stanley gave an "overweight" call with a target price of ₹9,000. The brokerage firm said the company's Q2 AUM was in line with parent Bajaj Finance's consolidated AUM growth. The net profit grew 13% from the previous quarter due to higher non-interest income and lower credit costs, the research firm added. 

On the other hand, HSBC gave a "reduce" call with a target price of ₹110. The brokerage firm also said the profit growth was due to income from assignments and lower credit costs.

HSBC added that the core earning performance of the company was muted and it expects earnings per share (EPS) growth to slow down due to lower AUM growth, net interest margin pressure and normalised credit costs. The research firm cut FY25-27 earnings per share estimates by 1%-4%.

Price Action: Shares of Bajaj Housing Finance were up 1.16% to ₹138.17 on Tuesday morning.

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