Share price of Bajaj Holdings rises as Nifty weakens

Shares of & Investment Ltd. gained 0.59 per cent to Rs 3454.2 in Tuesday’s trade as of 01:22PM (IST). The stock hit a high price of Rs 3485.95 and low of Rs 3409.35 during the session.

The return on equity (ROE) for the stock stood at 10.77 per cent. Traded volume on the counter stood at 01:22PM shares and turnover at Rs 0.64 crore around that time. The stock of Bajaj Holdings & Investment Ltd. quoted a 52-week high price of Rs 3784.8 and 52-week low prices of Rs 1850.05, respectively.

The stock’s Beta value, which measures its volatility in relation to the broader market, stood at 0.71.

Promotor/FII Holding

Promoters held 49.95 per cent stake in the company as of 31-Mar-2021, while overseas investors held 14.39 per cent and domestic institutional investors had 1.91 per cent.

Key Financials

The company reported consolidated sales of Rs 112.41 crore for the quarter ended 31-Mar-2021, down 1.1 per cent from previous quarter’s Rs 113.66 crore and down 5.12 per cent from the year-ago quarter’s Rs 118.47 crore. Net profit after tax for the latest quarter stood at Rs 948.98 crore, up 162.58 per cent from the same quarter a year ago.

The MACD signalled a bullish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices.

It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect “buy” or “sell” opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.

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