Buy Bajaj Electricals, target price Rs 1200: HDFC Securities

HDFC Securities has buy call on Bajaj Electricals with a target price of Rs 1200. The current market price of Bajaj Electricals Ltd. is Rs 958.9.

Bajaj Electricals Ltd., incorporated in the year 1938, is a Mid Cap company (having a market cap of Rs 10966.72 Crore) operating in Consumer Durables sector.

Bajaj Electricals Ltd. key Products/Revenue Segments include Consumer Durables, Contract Revenue, Scrap and Other Operating Revenue for the year ending 31-Mar-2024.



Financials
For the quarter ended 30-06-2024, the company reported a Consolidated Total Income of Rs 1165.53 Crore, down -3.72 % from last quarter Total Income of Rs 1210.54 Crore and up 2.96 % from last year same quarter Total Income of Rs 1132.04 Crore. Company reported net profit after tax of Rs 28.11 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 62.78 per cent stake in the company as of 30-Jun-2024, while FIIs owned 7.93 per cent, DIIs 14.75 per cent.