Electrifying performance: Bajaj Electricals shares return 80% in 1 year

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Published: April 5, 2017 2:35:21 PM

Bajaj Electricals shares are on a roll, with a stellar 80% return over the last one year. Today, the scrip made a new all-time high of Rs 387.85, rising 4.5% from the previous close. In the last six months too, the share has climbed up 45% (till Monday, April 3), while on a year-to-date basis, it has surged 69% since January.

Bajaj Electricals shares are on a roll, with a stellar 80% return over the last one year. Today, the scrip made a new all-time high of Rs 387.85, rising 4.5% from the previous close.

Bajaj Electricals shares are on a roll, with a stellar 80% return over the last one year. Today, the scrip made a new all-time high of Rs 387.85, rising 4.5% from the previous close. In the last six months too, the share has climbed up 45% (till Monday, April 3), while on a year-to-date basis, it has surged 69% since January.

In the period immediately following demonetisation, Bajaj Electricals shares were in a falling pattern, slipping to a six-month low of Rs 202.5 on 21 November 2016. Incidentally, the share price picked up the pace 26 December 2016 onwards and is on a continued upward trajectory since then.

*Data Source – NSE

On 9 February 2017 Bajaj Electricals reported a 17.5% decline in its fiscal third quarter net profit to Rs 21.97 crore as compared to that in the same quarter a year ago. Following the announcement of weak third quarter results, the stock lost some momentum in February but soon regained.

The weak performance led the lightning products and household appliances maker to cut its full-year earning guidance by as much as 8%. “Earlier we were looking at Rs 5,000 crores, which was our objective target. We are now looking at a number around Rs 4,600 crores for the FY 2016-2017,” Bajaj Electricals Chairman & Managing Director Shekhar Bajaj had said after the announcement of the quarterly results.

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Shekhar Bajaj had said the target was cut due to several factors such as demonetisation and the company’s change in the sales model. “Demonetisation has a short term problem in November and December as there was a shortage of cash among the spending class,” he had said.

Later in February, Bajaj Electricals extended its trademark agreement with the UK-based electrical appliances manufacturer Morphy Richards for five more years with effect from 25 April 2017, propelling its shares up 4%.

The stock has seen very sharp moves since the beginning of March. Earlier this week, on Monday, Bajaj Electricals surged almost 20% to Rs 374. Shekhar Bajaj had said recently that he expects the company to record a good fiscal fourth quarter financial earnings.

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