Bajaj Electricals inches up after a block deal

Bajaj Electricals rose 0.57% to Rs 176.75 at 13:51 IST on BSE after a block deal of 2.82 lakh shares was executed in the counter on BSE at Rs 177.40 per share at 13:20 IST.

The block deal constitutes 0.28% of Bajaj Electricals' equity.

Meanwhile, the S&P BSE Sensex was up 260.87 points or 1.26% at 20,969.58.

On BSE, 2.95 lakh shares were traded in the counter as against average daily volume of 31,507 shares over the past one quarter.

The stock hit a high of Rs 181.50 and a low of Rs 176 so far during the day.

The stock outperformed the market over the past one month till 4 December 2013, rising 2.18% compared with the Sensex's 2.5% fall. The scrip had also outperformed the market in the past one quarter, surging 15.36% as against Sensex's 11.53% surge.

Bajaj Electricals reported a net loss of Rs 15.35 crore in Q2 September 2013 as against net profit of Rs 26.92 crore in Q2 September 2012. Net sales rose 30.8% to Rs 958.64 crore in Q2 September 2013 over Q2 September 2012.

Bajaj Electricals is an electrical equipments manufacturing company. It is a part of Bajaj Group. It has diversified interests in lighting, luminaries, appliances, fans, LPG based generators, engineering and projects. Its main domains are lighting, consumer durables, engineering and projects.

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