The shares of electrical equipment manufacturers gained up to 2 percent after HDFC Mutual Fund bought 7.3 lakh equity shares via a bulk deal.
Bajaj Electricals Ltd’s market capitalization of Rs 10,152.81 crore, the shares were trading at Rs 881.35 per share, decreasing around 5.28 percent as compared to the previous closing price of Rs 922.80 apiece.
As of March 2024, the Government Pension Fund Global holds 61.86 lakh equity shares which is equivalent to 5.37 percent in Bajaj Electricals Ltd out of which Norges Bank, on account of the Government Pension Fund Global, sold 7,35,809 equity shares at an average price of Rs 929.97 per share, however, HDFC Mutual Fund bought 7.3 shares in the company at an average price of Rs 929.97 per shares.
Looking at the company’s financial performance, revenue declined by 8 percent from Rs 1,292 crore in Q4FY23 to Rs 1,188 percent in Q4FY24, during the same period, the company’s net profit dropped by 44 percent from Rs 52 crore to Rs 29 crore.
Examine the company’s recent shareholding pattern, the promotor holds a 62.80 percent equity share in the company, retail investors own a 14.41 percent stake, and Domestic institutional investors own a 12.61 percent stake in the company.
The firm has an extensive network of 18 branch offices, 660+ distributors, and ~2 lakh retail outlets across India, as well as over 620 customer service centers spanning 19,000 pin codes, solidifying its leading position in the consumer products market.
Bajaj Electricals Limited markets a variety of consumer, residential, and industrial products. The company is divided into two business segments: consumer products and lighting solutions. The Consumer items division manufactures and trades consumer durable items such as fans, home appliances, kitchen appliances, and non-electric kitchen aids.
Written by:- Abhishek Singh
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