Bajaj Holdings & Investment drops after weak Q1 outcome

Bajaj Holdings & Investment dropped 2.7% to Rs 1,798 at 12:52 IST on BSE after consolidated net profit fell 7.7% to Rs 565.84 crore in Q1 June 2016 over Q1 June 2015.

The result hit the market after trading hours yesterday, 27 July 2016.

Meanwhile, the S&P BSE Sensex was up 79.89 points or 0.29% at 28,104.

The stock hit a high of Rs 1,825 and a low of Rs 1,745 so far during the day. The stock hit 52-week high of Rs 1,898 in intraday trade yesterday, 27 July 2016. The stock hit a 52-week low of Rs 1,310.85 on 12 February 2016. The stock had outperformed the market over the past one month till 27 July 2016, rising 18.13% compared with 6.14% rise in the Sensex. The scrip had also outperformed the market in past one quarter, surging 27.17% as against Sensex's 7.52% rise.

The large cap company has equity capital of Rs 111.29 crore. Face value per share is Rs 10.

On a standalone basis, BHIL is largely dependent on stock and money markets for its income. In a press release, BHIL said that on standalone basis, its net profit fell 30.08% to Rs 86 crore in Q1 June 2016 over Q1 June 2015. Profit on sale of investments (net) declined to Rs 51 crore in Q1 June 2016 from Rs 64 crore in Q1 June 2015. Interest and other income fell to Rs 63 crore Q1 June 2016 from Rs 69 crore. Dividend income fell sharply to Rs 1 crore in Q1 June 2016 from Rs 26 crore in Q1 June 2015.

Bajaj Holdings & Investment (BHIL) is essentially a holding company and investment company focusing on earning income through dividends, interest and gains on investments held. As a holding company, BHIL holds strategic stake of 31.49% in Bajaj Auto, 39.29% stake in Bajaj Finserv and 24% stake in Maharashtra Scooters.

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