Bajaj Holdings shares up 0.44% as Sensex rises

Shares of Bajaj Holdings & Investment Ltd. gained 0.44 per cent to Rs 6279.8 in Friday's session as of 12:22PM (IST) even as the equity benchmark Sensex traded 256.59 points higher at 59291.54.

Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 6573.05 and a 52-week low of Rs 3181.8 on NSE. Around 2159 shares changed hands on the counter till 12:22PM (IST).

The stock opened at Rs 6199.0 and has touched an intraday high and low of Rs 6307.2 and Rs 6199.0 during the session so far. The counter quoted a price-to-earnings (PE) ratio of 17.95, earnings per share (EPS) of Rs 350.36 and price to book value (PB) of 0.99, while the return on equity (ROE) stood at Rs 9.82.

Promoter/ FII Holding
The promoters held 50.48 per cent stake in the company as of April 08, while FII and MF ownerships stood at 14.27 per cent and 3.13 per cent, respectively.

Key Financials
With a market capitalisation of Rs 69974.13 crore, the company operates in the Holding - Diversified industry. For the quarter ended 31-Dec-2021, the company reported consolidated sales of Rs 110.13 crore, down 31.34 per cent from the previous quarter?s Rs 160.39 crore and down 3.11 per cent from the same quarter a year ago. The company reported net profit of Rs 1040.16 crore for the latest quarter, down 9.52 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 83.27. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.