According to media reports, around 21.4 lakh shares, or 1.9 % stake, changed hands. The details of the buyers and the sellers were not known.
As per the shareholding data available with the exchanges, a 62.86% stake in Bajaj Electricals is held by the promoter and promoter group, while the rest is with the public.
Top mutual funds, including Nippon India, ICICI Pru MF, and HDFC small cap fund, own about 11.53% of the company, while foreign investors hold an 11.22% stake.
On a year-to-date basis, the stock declined over 10%, while it has surged 71% in the last five years. Meanwhile, the scrip has delivered multibagger returns to investors as the stock has risen over 200% in the last three years.
In Q3 FY23, Bajaj Electricals reported an increase of 26.88% in its consolidated net profit to Rs 61.12 crore. Its revenue from operations was up 12.47% to Rs 1,484.49 crore during the third quarter of FY23 against Rs 1,319.81 crore in the corresponding quarter.
As per Trendlyne data, the average target price of the stock is Rs 1,296, an 20% upside from the current market price of Rs 1,076.The consensus recommendation from 17 analysts for the stock is a Buy. Of the 17 analysts covering the stock, 11 have strong buy and buy ratings, while only one has a sell rating. The remaining five have hold ratings.
Technically, Bajaj Electricals is trading below 5 out of 8 SMAs. The stock traded higher than the 5-day, 10-day, and 20-day moving averages but lower than the 30-day, 50-day, 100-day, 150-day, and 200-day moving averages.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Education News Click Here
For the latest news and updates, follow us on Google News.
