Bajaj Corp scales record high after large bulk deal

Bajaj Corp surged 4% to Rs 320 at 10:29 IST on BSE after 8.13% equity changed hands in a bulk deal on BSE today, 25 November 2014.

A large bulk deal of 1.20 crore shares was executed on the Bajaj Corp counter at Rs 270 per share in opening bell on the BSE today, 25 November 2014.

Meanwhile, the BSE Sensex was down 68.78 points, or 0.24%, to 28,430.76

Bulk deal boosted volume on the scrip. On BSE, so far 1.23 crore shares were traded in the counter as against average daily volume of 20,396 shares in the past one quarter.

The stock was intensely volatile. The stock hit a record high of Rs 345.80 in intraday trade today, 25 November 2014. The stock hit a low of Rs 270 so far during the day. The stock had hit a 52-week low of Rs 198 on 13 December 2013.

The stock had outperformed the market over the past one month till 24 November 2014, advancing 6.93% compared with Sensex's 6.14% rise. The scrip had also outperformed the market in past one quarter, surging 14.17% as against Sensex's 7.87% rise.

The mid-cap company has equity capital of Rs 14.75 crore. Face value per share is Re 1.

Bajaj Corp's net profit rose 3.9% to Rs 37.44 crore on 18.6% increase in net sales to Rs 187.61 crore in Q2 September 2014 over Q2 September 2013.

Bajaj Corp is an FMCG company with major brands in hair care category. The company's product portfolio includes Bajaj Kailash Parbat Thanda Tel, Bajaj Almond Drops Hair Oil, Bajaj Brahmi Amla Hair Oil, Bajaj Amla Shikakai Hair Oil and Bajaj Jasmine Hair Oil.

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