On December 31, 2012 Reliance Diversified Power Sector Fund sold 560,000 shares of Bajaj Electricals at Rs 208 on the BSE. In the previous trading session, the share closed at Rs 208.95, up Rs 0.75, or 0.36%.
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Bajaj Electricals expects a pickup in engineering and products business, which has been hit by the overall slowdown in infrastructure spending, beginning next financial year, following a clean up of its existing orders, which have seen a significant cost over runs, joint MD Anant Bajaj told moneycontrol.com on Thursday.
Bajaj Electricals' second quarter net profit rose 8% year-on-year to Rs 27 crore as losses in the engineering and projects business were offset by one-time profit from sale of investment and lower tax expenses.
Shekhar Bajaj, chairman & MD, Bajaj Electricals, says that the company has seen a positive growth in consumer durable and lighting segment. Compared to last year, this year or EBITDA may be slightly higher.
Buy Bajaj Electricals, says Sudarshan Sukhani of s2analytics.com. It is a good quality midcap stock. It is not a day trade but if somebody wants to carry this for a few days, it is a very good stock to be in.
Shares of Bajaj Electricals rallied over 5% after the company sold entire 50% stake in Bajaj Ventures at Rs 23.96 a share to Black & Decker India.
SPA Research is bullish on Bajaj Electricals (BJE) and has recommended buy rating on the stock with a target of Rs 235 in its July 27, 2012 research report.
The overall economy may be in a slowdown, Bajaj Electricals still feels it will be able to achieve its earlier revenue guidance of Rs 3,800 crore this year, helped by strong growth in consumer durablÃ©s and lighting.
Bajaj Electricals' first quarter net profit rose 9% year-on-year to Rs 12 crore, as strong sales growth in consumer appliances was offset by continued sluggishness in engineering and projects business.
Bajaj Electricals and TTK Prestige are the top pick in midcap space, says Gautam Chhaochharia, Head of Midcap Research, UBS India.
Angel Broking is bullish on Bajaj Electricals and has recommended buy rating on the stock with a target of Rs 246 in its May 29, 2012 research report.
Bajaj Electricals can touch Rs 220, says SP Tulsian, sptulsian.com.
Nirmal Bang has come out with its report on Bajaj Electricals and has recommended to book profit in the stock.
Bajaj Electricals has reported a sales turnover of Rs 1,060.16 crore and a net profit of Rs 48.99 crore for the quarter ended Mar '12
Buy Bajaj Electricals on dip, says SP Tulsian, sptulsian.com.
Bajaj Electricals has announced its fourth quarter results. The company's Q4 net profit was down at Rs 49 crore versus Rs 57.5 crore, year-on-year, YoY.
Major consumer durables firms like Samsung, LG and Bajaj Electricals are expecting robust growth of up to 30 percent during this year compared to a slump in demand in 2011 on the back of good performance of air conditioner and refrigerator segments.
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Against the Rs 3200 crore that Bajaj Electricals plans to close this year with, the company is expecting revenues to the tune of Rs 3800 crore next year, says Shekhar Bajaj, chairman and managing director.
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Coal India | EIH Associated Hotels | GMR Infrastructure | Fortis Healthcare | Bajaj Electricals | Sun Pharma | Alchemist | IVRCL and ACC are stocks, which are in the news today.
Bajaj Electricals has appointed Anant Bajaj, its executive director since 2006, as joint managing director effective April 1.
IIFL is bullish on Bajaj Electricals and has recommended buy rating on the stock with a target of Rs 228 in its March 1, 2012 research report.
R Ramakrishnan, executive director of Bajaj Electricals will leave the company on March 1. In an interview to CNBC-TV18, R Ramakrishnan says, he has left Bajaj Electronics to pursue personal goals.