ICICIdirect.com is bullish on Bajaj Electricals and has recommended buy rating on the stock with a target price of Rs 330, in its research report dated August 7, 2015.
Shekhar Bajaj, CMD, Bajaj Electricals expects growth in sales of consumer durables to continue in the second quarter also.
Sharmila Joshi of sharmilajoshi.com is of the view that one may hold Bajaj Electricals.
Here are a few top buzzing midcap stocks picked by CNBC-TV18's analysts in trade today. We have Dr Reddy's Lab, Balaji Telefims and Tata Steel.
Operating profit (earnings before interest, tax, depreciation and amortisation) shot up 63.6 percent year-on-year to Rs 60 crore and margin expanded by 190 basis points to 6 percent in the quarter gone by. Analysts had expected operating profit of Rs 53.8 crore and margin at 5.5 percent for the quarter.
Operating profit may spike 46 percent year-on-year to Rs 53.8 crore and margin may expand 130 basis points to 5.5 percent in June quarter. Margin expansion may be led by the turnaround in the E&P business.
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Rajat Bose of rajatkbose.com expects Bajaj Electricals Bajaj Electricals to move up and test Rs 289-297.
"The engineering and project business unit has bagged an order worth Rs 88.59 crore from Karnataka Power Transmission Corporation (KPTCL)," Bajaj Electricals said in a BSE filing.
Edelweiss has recommended to hold Bajaj Electricals with a target price of Rs 255, in its research report dated June 30, 2015.
Talking to CNBC-TV18, Anant Bajaj, Joint MD of Bajaj Electricals said with better accessibility to areas and availability of electricity, rural market is growing at faster pace than the urban market.
Kunal Bothra of LKP Securities recommends selling Crompton Greaves and advises buying Bajaj Electricals.
Mayuresh Joshi of Angel Broking is optimistic on Blue Star.
Bajaj Electricals has reported a sales total income from operations of Rs 1,311.67 crore and a net profit of Rs 46.89 crore for the quarter ended Mar '15
Bajaj Electricals' net sales were Rs 1,301.46 crore during the quarter under review, up 3.07 percent, as against Rs 1,262.64 crore in the same period of 2013-14.
Shekhar Bajaj, CMD of Bajaj Electricals is very bullish on the LED lighting business where they have won order worth Rs 41 crore last month and have also received orders worth Rs 80 crore orders for Luminaires.
ONGC | CIL | Persistent Systems | Bajaj Electricals | Rolta India and ABG Shipyard are stocks, which are in news today.
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On February 25, 2015 Jamnalal Sons Private Limited sold 6,75,000 shares of Bajaj Electricals.
Angel Broking is bullish on Bajaj Electricals (BEL) and has recommended buy rating on the stock with a target of Rs 312 in its February 16, 2015 research report.
Kotak Securities is bullish on Bajaj Electricals and has recommended accumulate rating on the stock with a target price of Rs 240, in its research report dated February 13, 2015.
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The company had reported a net profit of Rs 20.03 crore in the same period of the previous fiscal, Bajaj Electricals said in a BSE filing. Net sales during the October-December period this fiscal increased marginally by 0.27 percent to Rs 1,029.27 as against Rs 1026.42 crore in the same period last year.
According to Nirmal Jain, Chairman at IIFL, one may stay away from consumer durable segment.
In an interview to CNBC-TV18, Nirmal Jain, Chairman, IIFL, said the correction is over for the time being but it will depend on the movement in global markets.