Bajaj Holdings shares drop 0.86% as Sensex rises

Shares of Bajaj Holdings & Investment Ltd. traded 0.86 per cent lower in Thursday's session at 01:39PM (IST). The stock opened at Rs 6210.0 and has touched an intraday high and low of Rs 6250.25 and Rs 6143.35, respectively, during the session so far.

The stock quoted a 52-week high of Rs 7377.6 and a 52-week low of 4299.8. About 1,668 shares changed hands on the counter so far.

Benchmark Nifty50 was up 30.5 points at 18591.0, while the BSE Sensex traded 80.46 points higher at 62491.14 at the time of writing of this report.

In the Nifty pack, 28 stocks traded the day in the green, while 21 were in the red.


Key Financials
For the quarter ended 30-Sep-2022, the company reported consolidated sales of Rs 200.99 crore, up 92.81 per cent from the previous quarter's Rs 104.24 crore and up 25.31 per cent from the year-ago quarter. The company reported net profit of Rs 1242.79 crore for the latest quarter.

Promoter Holdings
Promoters held 51.2 per cent stake in the company as of 30-Sep-2022, while FIIs held 13.21 per cent and MFs 3.79 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 5587.13 on December 08, while the 50-DMA was at Rs 6547.47. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.