B&K Securities raises TP of India's Bajaj Electricals

Bajaj Electricals

24/05/2023 08:36

** B&K Securities raises target price of India's Bajaj
Electricals  BJEL.NS  to 1,408 rupees from 1,380 rupees, saying
the company posted "good performance in weak demand scenario" 
    ** Earnings would be largely driven by consumer products
(CP) and lighting business in the medium-term, the brokerage
note says
    ** "Focus on increasing counter share, deeper penetration
and new product introduction" to drive CP growth - B&K analysts
    ** Analysts believe demerger of projects business will help
co to focus on engineering, procurement and construction (EPC)
segment 
    ** Rating house maintains "buy" rating on co 
    ** Thirteen out of 19 analysts rate the stock "buy" or
higher, 4 "hold" and 2 "sell" or lower; median TP is 1,300.50
rupees
    ** BJEL has risen as much as 1.43% on Wednesday to 1,230
rupees after posting a 32% profit jump on Tuesday 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))