(1) Aqiqah is sunnah and mustahab in Hanafi Fiqh. Aqiqah (two goats from the baby boy and one from baby girl) should be offered as thanksgiving and protection from diseases and troubles on the seventh day of birth (on Thursday if the baby was born on Friday and on Wednesday if the baby was born on Thursday). It is mustahab to shave baby head, give silver in charity equal in weight of the hair and rub saffron on the head of baby boy. These things are proved from hadith. It is also reported in hadith that the baby will intercede for its parents.
Without aqiqah, the baby lacks blessing and goodness, and it is away from cleanliness and involved in uncleanliness etc.
Allah (Subhana Wa Ta’ala) knows Best
Darul Uloom Deoband