Bajaj Electricals Limited up by 20 percent | Espresso Market Updates

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Espresso shot of the day – Bajaj Electricals Ltd up by 20 percent

February 05, 2021
Espresso shot of the day – Bajaj Electricals Ltd up by 20 percent

BAJAJ ELECTRICALS LTD 921.45 (+20.00 %)  BSE – INE193E01025| 5th FEB 2021

Binge graph Bajaj Electricals

Bajaj Electricals Limited, a globally renowned and trusted company with a turnover of Rs 4,987 crores (FY 19-20) is a part of Bajaj Group. Bajaj Electricals Limited business is spread across – Consumer Products (Appliances, Fans, Lighting), Exports, and EPC (Illumination, Transmission Towers and Power Distribution). With 20 branch offices and approximately 500 customer care centres, they are scattered in different parts of the country. They also have a presence in premium home appliances and cookware segments with brands like Morphy Richards and Nirlep.

Recent Drivers

  • Bajaj Electricals Limited announced net profit of Rs 98.2 crores for December Quarter 2020 up by 948% from of Rs 9.37 crores in December Quarter 2019
  • For the quarter, Consumer Products (CP) segment saw a 34% Y-O-Y growth in revenue to Rs 1,153 crores.  
  • The Consumer Product (CP) businesses has delivered a strong growth in this quarter despite continuous supply challenges and increase in commodity prices and has delivered its highest ever quarterly EBIT of Rs 142 crores.
  • There was a decrease in travel costs, as well as rent since the company has surrendered certain offices. There is a lower spend on ads and publicity in the quarter. All of this has resulted in better EBIT margins
  • On 4 February, 2021, Bajaj Electricals Limited has approved grant of total 112,500 Stock Options under the Company’s Employee Stock Option Scheme 2015 (“ESOP Scheme 2015”) to 26 eligible employees at a price of Rs 736.75 per option
  • On 25th December 2020, rating agency ICRA had reaffirmed long-term and short-term rating of the company’s line of credit, along with non-convertible debenture (NCD) programme of the company. The outlook on the said long-term and NCD rating has been revised to 'Stable' from 'Negative’.
(Sources: Moenycontrol, BSE, Business Standard, Economic Times )

Technical Force*

  • S&P BSE ALL CAP month till date gain up by 8.56%
  • Traded on new 52-week high value 921.45, stock traded in new uncharted territory
  • Touched upper circuit today 921.45
  • Spurt in volume by more than 5.38 times compares to previous vol. 3 month avg qty – 4,07,073
  • Stock price has jumped more than 100% in one year low level – 260, 03 APR 20
  • Daily RSI (14) is in overbought territory today
  • 52- week high – 921.45 | 52- week low – 260.00

 Key Pivot  (Yearly)

R4

R3

R2

R1

PP/FIB PP

S1

S2

S3

S4

Pivot Point

-

1140.23

894.12

752.23

506.12

364.23

118.12

-

-

Fibonacci Pivot

894.12

745.90

654.33

595.36

506.12

416.88

357.90

266.93

118.12


Today’s Close

921.45

SMA

BSE

10 DAY

757.38

20 DAY

747.89

50 DAY

662.59

200 DAY

500.15

Some Key Ratios (Source: BSE)

Market Cap: 10,543.43 crores

PE: 82.63

OPM%: 10.32

ROE%: 8.83

Prev. Close: 767.90

* Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.