Bajaj Electricals Stock Set to Surge: HDFC Securities Sets Target Price at Rs 1200

HDFC Securities recommends buying Bajaj Electricals with a target price of Rs 1200. The current market price is Rs 1072.3.

About the Company:

Bajaj Electricals Ltd., established in 1938, is a mid-cap company with a market capitalization of Rs 12349.02 crore. It operates in the consumer durables sector.

Revenue Sources:

Bajaj Electricals earns revenue from various sources, including:

• Consumer Durables
• Contract Revenue
• Scrap
• Other Operating Revenue

Financial Performance:

For the quarter ending March 31, 2024:

• The company’s consolidated total income was Rs 1210.54 crore, a 4.75% decrease from the previous quarter’s total income of Rs 1270.97 crore.
• Compared to the same quarter last year, total income decreased by 20.47% from Rs 1522.11 crore.
• Bajaj Electricals reported a net profit after tax of Rs 29.31 crore.

Ownership:

As of March 31, 2024:

• Promoters held a 62.8% stake in the company.
• Foreign Institutional Investors (FIIs) owned 10.18%.
• Domestic Institutional Investors (DIIs) held 12.61%.

Conclusion:

HDFC Securities suggests buying Bajaj Electricals shares, setting a target price of Rs 1200, reflecting confidence in the company’s potential for growth and profitability.