Share price of Bajaj Holdings falls as Nifty strengthens

Shares of Bajaj Holdings & Investment Ltd. slipped 0.62 per cent to Rs 5122.65 in Tuesday's trade as of 12:33PM (IST). The stock hit a high price of Rs 5200.0 and low of Rs 5082.0 during the session.

The return on equity (ROE) for the stock stood at 9.82 per cent. Traded volume on the counter stood at 12:33PM shares and turnover at Rs 0.3 crore around that time. The stock of Bajaj Holdings & Investment Ltd. quoted a 52-week high price of Rs 5654.0 and 52-week low prices of Rs 3145.0, 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 50.48 per cent stake in the company as of 31-Dec-2021, while foreign investors held 13.02 per cent and domestic institutional investors had 3.13 per cent.

Key Financials
The company reported consolidated sales of Rs 110.13 crore for the quarter ended 31-Dec-2021, down 31.34 per cent from previous quarter's Rs 160.39 crore and down 3.11 per cent from the year-ago quarter's Rs 113.66 crore. Net profit after tax for the latest quarter stood at Rs 1040.16 crore, down 9.52 per cent from the same quarter a year ago.

Technicals
The MACD signalled a bearish 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.