Bajaj Electricals has
dipped nearly 8% to Rs 308, falling 11% from intra-day high on BSE,
after reporting a lower-than-expected net profit of Rs 6 crore for the
quarter ended June 2014 (Q1), mainly due to poor performance by the
consumer durables segment and higher interest burden. The company had
profit of Rs 66 lakh in the same quarter last year.
Net sales for the quarter grew 12.5% to Rs 888 crore against Rs 789 crore in the corresponding quarter of the previous fiscal.
Analysts on an average had estimated a profit of Rs 22 crore on revenues of Rs 891 crore for the quarter.
The company’s consumer durables segment, which account 57% of total revenues, reported 14% y-o-y decline in PBIT (profit before tax and interest).
The stock opened at Rs 337 and hit high of Rs 345 on BSE. A combined 675,098 shares changed hands on the counter till noon deals on BSE and NSE.
Intraday Tips For Today Recommendation:
Net sales for the quarter grew 12.5% to Rs 888 crore against Rs 789 crore in the corresponding quarter of the previous fiscal.
Analysts on an average had estimated a profit of Rs 22 crore on revenues of Rs 891 crore for the quarter.
The company’s consumer durables segment, which account 57% of total revenues, reported 14% y-o-y decline in PBIT (profit before tax and interest).
The stock opened at Rs 337 and hit high of Rs 345 on BSE. A combined 675,098 shares changed hands on the counter till noon deals on BSE and NSE.
Intraday Tips For Today Recommendation:
- 'BUY'"DLF target of Rs 207 and a stop loss of Rs 200.
- 'BUY'"Tata Steel target of Rs 572 and a stop loss of Rs 548.
- 'BUY'"Biocon target of Rs 495 and a stop loss of Rs 465.
- 'SELL'"Arvind target of Rs 225 and a stop loss of Rs 240.
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