Bajaj Holdings rises after good Q2 results

Bajaj Holdings & Investment advanced 1.78% to Rs 820.85 at 12:05 IST on BSE after consolidated net profit rose 17.8% to Rs 459.98 crore on 0.5% growth in total income to Rs 92.26 crore in Q2 September 2013 over Q2 September 2012.

The Q2 result was announced on Wednesday, 16 October 2013. Indian financial markets were closed on Wednesday, 16 October 2013, on account of Bakri Id.

Meanwhile, the S&P BSE Sensex was up 3.59 points or 0.02% at 20,551.21.

On BSE, 1,091 shares were traded in the counter as against average daily volume of 18,961 shares in the past one quarter.

The stock hit a high of Rs 824.90 and a low of Rs 808 so far during the day. The stock had hit a 52-week high of Rs 1,058 on 4 January 2013. The stock had hit a 52-week low of Rs 743.75 on 8 July 2013.

The stock had underperformed the market over the past one month till 15 October 2013, rising 0.62% compared with the Sensex's 4.13% rise. The scrip, however, outperformed the market in past one quarter, gaining 4% as against Sensex's 2.56% rise.

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

Bajaj Holdings & Investment's consolidated profit from associates rose 22.5% to Rs 392.69 crore in Q2 September 2013 over Q2 September 2012.

Bajaj Holdings & Investment is a holding and investment company, focusing on earning income through dividend, interest and gains on investment held. The company holds strategic stakes of 31.49% stake in Bajaj Auto, 39.16% in Bajaj Finserv and 24% in Maharashtra Scooters (as per the shareholding pattern as on 30 September 2013).

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