Bajaj Electricals has dipped 7% to Rs 200, extending its previous day’s over 4% fall on reporting 8% year-on-year growth in net profit at Rs 26.92 crore in September 2012 quarter mainly on account of one-time gain of Rs 24.68 crore on disinvestment
Both Havells India and Bajaj Electricals have outperformed the markets since the start of September, following upgrades by analysts and improving outlook. What’s more, many analysts believe there is still room for the stocks to move up.
Bajaj Electricals has gained almost eleven per cent since closing lows of Rs 169.95 on September 7. This has come with the buzz of stake sale in Bajaj ventures that was likely to improve the balance sheet.
Bajaj Electricals has tanked over 7% at Rs 199 on reporting a 15% year-on-year (y-o-y) drop in its net profit at Rs 48.99 crore for the quarter ended March 31, 2012 mainly on account of expenses on change in inventories and higher interest cost.
Bajaj Electricals, which on Monday reported a 15 per cent drop in net profit for the March quarter on poor sales in its engineering division, will selectively increase prices to tackle the massive fall in rupee.
Bajaj Electricals is trading lower by 8% at Rs 222 after reporting a 51% year-on-year drop in net profit at Rs 11.06 crore for the quarter ended June 30, 2011. The company had reported a net profit of Rs 22.50 crore in the corresponding quarter of the