Bajaj Electricals and Whirlpool can see significant upside on follow-up buying, technical charts suggest. However, the overall market also needs to be positive for these stocks to gain further ground
Bajaj Electricals on Tuesday reported a consolidated net profit of Rs 54.26 crore for the quarter ended March 31, 2021.
Indian Meteorological Department (IMD) expects day temperatures to remain above-normal in select regions across the country between March to May 2021
Involves end-to-end redesign of Bajaj Electricals' logistics by Mahindra, with the twin aim of achieving enhanced and industry-best service levels, and cost saving of over 25%
Analysts remain structurally positive on Bajaj Electricals given strong brand with leadership position in kitchen appliances and deep distribution network
The company's consumer product business has delivered a strong growth in this quarter despite continuing supply challenges and increase in commodity prices
The firm was helped by a strong growth in its consumer products business
Last month, ICRA had reaffirmed its long-term and short-term rating of the company's line of credit
Nifty's momentum indicators and oscillators on the weekly scales are still in 'buy' mode
Its total income during the quarter under review stood at Rs 615.34 crore, down 53.3 per cent, as against Rs 1,317.99 crore in the corresponding quarter last fiscal
In the past two weeks, the stock has underperformed the market by falling 20 per cent on weak September quarter (Q2FY20) earnings.
The management said consumer products segment registered a moderate growth of 9 per cent YoY in the top line on account of an overall slowdown in the economy
The company has appointed investment bankers Edelweiss and IIFL to handle the offering, which may be in the range of Rs 400-600 crore, said people in the know. The proceeds will be used to pare debt
Bajaj Electricals' total expenses fell 17.17% to Rs 1,294.61 crore as against Rs 1,104.88 crore in the year-ago period
This was the second straight quarter of double-digit volume growth for the vertical, as the company strengthened distribution, launched new products and pushed the Bajaj brand name aggressively
Induction comes after the demise of company MD Anant Bajaj in August
Bajaj, aged 41, was the only son of company chairman Shekhar Bajaj, took over as MD in June.
From about 10% now in terms of manufacturing in-house, we would like to take the figure to about 25-30% in the next three years, says chairman and managing director of Bajaj Electricals, Shekhar Bajaj
The stock surged 7% to Rs 660 on the BSE in early morning trade, quoting close to its 52-week high of Rs 664 on April 4, 2018 in intra-day trade.
The project will be undertaken in PuWNL zones in Varanasi, Fatehpur, Azamgarh, Jaunpur, Pratapgarh and Mau and Ballia in Uttar Pradesh