Its total income during the quarter under review stood at Rs 615.34 crore, down 53.3 per cent, as against Rs 1,317.99 crore in the corresponding quarter last fiscal
In the past two weeks, the stock has underperformed the market by falling 20 per cent on weak September quarter (Q2FY20) earnings.
The management said consumer products segment registered a moderate growth of 9 per cent YoY in the top line on account of an overall slowdown in the economy
The company has appointed investment bankers Edelweiss and IIFL to handle the offering, which may be in the range of Rs 400-600 crore, said people in the know. The proceeds will be used to pare debt
Bajaj Electricals' total expenses fell 17.17% to Rs 1,294.61 crore as against Rs 1,104.88 crore in the year-ago period
This was the second straight quarter of double-digit volume growth for the vertical, as the company strengthened distribution, launched new products and pushed the Bajaj brand name aggressively
Induction comes after the demise of company MD Anant Bajaj in August
Bajaj, aged 41, was the only son of company chairman Shekhar Bajaj, took over as MD in June.
From about 10% now in terms of manufacturing in-house, we would like to take the figure to about 25-30% in the next three years, says chairman and managing director of Bajaj Electricals, Shekhar Bajaj
The stock surged 7% to Rs 660 on the BSE in early morning trade, quoting close to its 52-week high of Rs 664 on April 4, 2018 in intra-day trade.
The project will be undertaken in PuWNL zones in Varanasi, Fatehpur, Azamgarh, Jaunpur, Pratapgarh and Mau and Ballia in Uttar Pradesh
The stock hit a record high of Rs 624, up 8.6% on the BSE in noon deal, surpassed its previous high of Rs 585 recorded on January 5, 2018 in intra-day trade
The company said gross sales for the quarter is not comparable with the previous period due to GST implementation
It launched a new range of Morphy Richards products in the super premium segment
The stock was trading at Rs 329.70 a piece on BSE, up 0.20 per cent from the previous close
Bajaj Electricals is also looking to expand its offerings into the mass and premium segment
Focus on brand building, reduced dependence on wholesalers will aid margins
The stock rallied 8.5% to Rs 306 on BSE in intra-day trade.
Bajaj Electricals, VIP Industries and Future Consumer hit their respective 52-week highs on BSE
Total income from operations stood at Rs 959.36 crore