Bajaj Electricals board will meet on 12 October 2009 to consider stock split.
Bajaj Electricals board will meet on 12 October 2009 to consider stock split. .
· The mid-cap stock underperformed the market over the past one month till 6 October 2009, rising 1.32% as compared to the Sensex’s 8.09% rise. It had outperformed the market in the past one quarter, surging 61.11% as compared to the Sensex’s return of 20.76%.
· The company’s equity capital is Rs 17.44 crore. Face value per share is Rs 10.
· The current price of Rs 718.10 discounts the company’s Q1 June 2009 annualized EPS of Rs 37.85, by a PE multiple of 18.97.
· The board will also consider raising funds through qualified institutional placements (QIP), the company said in a filing with BSE.
· Bajaj Electricals’ net profit surged 63.4% to Rs 16.36 crore on 15.1% rise in net sales to Rs 365.38 crore in Q1 June 2009 over Q1 June 2008.
· Bajaj Electricals manufactures electric fans and general lighting items, such as lamps, special lamps, fluorescent tubes, and lighting fixtures. The company also manufactures consumer durables like small electrical appliances.
· Promoters have pledged 2.50 lakh shares representing 1.45% of the equity capital of the company (as on 30 June 2009). Total promoters shareholding in the company is 74.14% (as on 30 June 2009).
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