Bajaj Holdings Share Price surges 6% Intraday

Bajaj Holdings, the NBFC sector company was formerly known as the Bajaj Auto Limited. The company embarks on all the businesses and all properties, assets, investments and liabilities after being de-merged. The de-merging caused the manufacturing undertaking to be shifted to the new Bajaj Auto Limited (BAL) and its strategic business undertaking consisting of wind farm business and financial services business has been conferred with Bajaj Finserv Limited (BFS). After demerger, Bajaj Holdings owns more than 30% shares each in BAL and BFS. Going Ahead, Bajaj Holdings will focus on new business opportunities. BAL and BFS will be able to tap (on an arm’s length basis) into the company’s cash pool to support future growth opportunities. By having 30% stake in both BAL and BFS, the company will benefit from the future growth of these companies.

Today, Bajaj Holdings share price closed 2122.15 after surging over 6 per cent intraday as compared to the 0.84 per cent decline in the Benchmark Index Nifty. Approximately three lakh shares changed hands over the NSE Trading counter.

The company had reported 23 per cent rise in its consolidated net profit in the September quarter this financial year. Company's net profit in the corresponding July-September quarter of previous financial year stood at Rs 567.79 crore. Its consolidated total income has increased to Rs. 271.99 crores for Q2FY17 from Rs. 111.08 crores in the corresponding quarter last financial year. However, it reported a decline in the standalone net profit by 63.7 per cent to Rs. 198.44 crores as against the standalone profit of Rs. 546.23 crores in the same periods last financial year.  Its standalone income also declined 314.59 crores in the September quarter compared to Rs. 576.60 crores in the year ago period.

Bajaj Holdings is recommended as the top 500 performing stock from among the 1700 listed stocks on NSE. For the details on the stock, visit Bajaj Holdings share price history page of Dynamic Levels website.