Bajaj Holdings shares fall 2.12% as Nifty drops

Shares of Bajaj Holdings & Investment Ltd. traded 2.12 per cent down at Rs 6867.95 on Wednesday at around 01:18PM (IST), while the benchmark BSE Sensex declined 564.56 points to 64947.54.

As many as 883 shares changed hands on the counter with a total value of Rs 0.61 crore.

The stock quoted a 52-week high price of Rs 7638.0 and a 52-week low of Rs 5557.05.

On the technical charts, the 200-DMA of the stock stood at Rs 6614.65, while 50-DMA was at Rs 7272.63. If a stock trades above 50 DMA and 200 DMA, it usually means the immediate trend is up. On the other hand, if the stock trades below 50 DMA and 200 DMA both, it is considered a bearish trend and if it trades between 50DMA and 200DMA, then it suggests the stock can go anywhere.

Shares of the company have advanced 5.03 per cent in the past one year, while Sensex has risen 14.76 per cent during the same period.

According to BSE data, the stock trades at a price-to-earnings multiple of 14.45 and a price-to-book ratio of 1.49. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price to book value indicates the inherent value of a company and reflects the price that investors are ready to pay even for no growth in a business. The stock belongs to the Holding - Diversified industry.