Buy Bajaj Electricals, target price Rs 1320: Yes Securities

Yes Securities has buy call on Bajaj Electricals with a target price of Rs 1320. The current market price of Bajaj Electricals Ltd. is Rs 1221.9. Time period given by analyst is Intra Day when Bajaj Electricals Ltd. price can reach defined target.

Bajaj Electricals Ltd., incorporated in the year 1938, is a Mid Cap company (having a market cap of Rs 13968.58 Crore) operating in Consumer Durables sector.

Bajaj Electricals Ltd. key Products/Revenue Segments include Consumer Durables, Contract Revenue and Other Operating Revenue for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 1323.19 Crore, up 52.90 % from last quarter Total Income of Rs 865.37 Crore and up 7.87 % from last year same quarter Total Income of Rs 1226.70 Crore. Company reported net profit after tax of Rs 62.55 Crore in latest quarter.

Investment Rationale
After losing 20% from December high, the stock swiftly recovered this week. Sustenance above the levels of Rs 1,200 is likely to keep the near term outlook positive.

Promoter/FII Holdings
Promoters held 62.85 per cent stake in the company as of 31-Dec-2021, while FIIs owned 11.8 per cent, DIIs 11.66 per cent.