New order boosts Bajaj Electricals

Bajaj Electricals rose 0.8% to Rs 283.85 at 12:58 IST on BSE after the company said that its Engineering & Project business unit has bagged an order from Karnataka Power Transmission Corporation worth Rs 88.59 crore.

The new order was announced during market hours today, 17 July 2015.

Meanwhile, the S&P BSE Sensex was up 28.46 points or 0.1% at 28,474.58.

On BSE, so far 38,000 shares were traded in the counter as against average daily volume of 69,721 shares in the past one quarter.

The stock was volatile. The stock rose as much as 2.52% at the day's high of Rs 288.70 so far during the day. The stock fell 0.21% at the day's low of Rs 281 so far during the day. The stock had hit a 52-week high of Rs 349 on 22 July 2014. The stock had hit a 52-week low of Rs 191 on 1 December 2014.

The stock had underperformed the market over the past one month till 16 July 2015, sliding 4.62% compared with Sensex's 6.59% rise. The scrip had, however, outperformed the market in past one quarter, jumping 17.82% as against Sensex's 0.77% fall.

The small-cap company has equity capital of Rs 20.16 crore. Face value per share is Rs 2.

Bajaj Electricals reported net profit of Rs 46.89 crore in Q4 March 2015 compared with net loss of Rs 10.65 in Q4 March 2014. Net sales rose 3.1% to Rs 1301.46 crore in Q4 March 2015 over Q4 March 2014.

Bajaj Electricals is an electric products maker and is a part of Bajaj Group.

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