Bajaj Electricals extends fall on credit rating downgrade, weak Q2 results

In the past two weeks, the stock has underperformed the market by falling 20 per cent on weak September quarter (Q2FY20) earnings.

Shares of Bajaj Electricals continued to remain under pressure, hitting an over two-year low of Rs 309, down 3 per cent on the BSE on Tuesday after the rating agency ICRA downgraded the company’s credit rating due to poor earnings.

The stock of household appliances hit its lowest level since August 2017. In the past two weeks, it has underperformed the market by falling 20 per cent on weak September quarter (Q2FY20) earnings. In comparison, the S&P BSE Sensex has gained nearly a per cent during the same period.

“The rating agency has inter alia considered significant decline