Bajaj Electricals plans to launch new premium products to increase its revenue contribution from upscale products. The company will be launching a Morphy Richards range in the latter half of this year. Its recent launch of a new brand, 'Nex,' targets upscale consumers with its premium range of appliances. Bajaj Electricals looks to focus on brand upliftment and product premiumisation by launching new products to grow market share.

Prabhudas Lilladher recommended accumulate rating on Bajaj Electricals with a target price of Rs 1301 in its research report dated May 24, 2023.

Divis Laboratories continued to see healthy volumes for yet another session. It jumped 3.7 percent to Rs 3,385.8, the highest closing level since May 10 and formed long bullish candlestick pattern on the daily scale for second consecutive session.

Bajaj Electricals, the Indian consumer durables firm, has posted a net profit of INR518.5m ($6.3m) for Q1, an increase of almost 32% YoY. Sales of air coolers and air conditioners were behind the firm's strong results as soaring temperatures swept across the country. Its consumer products business took responsibility for the upswing, with sales of fans, air coolers, room heaters and kitchen appliances all enjoying high growth. Overall revenue reached INR14.9bn in the Q1 period, a 12% increase YoY.

Volatility is expected in the Indian stock market as investors react to RBI's decision to recall Rs 2,000 banknotes. A number of companies will release their quarterly results in the coming week which should drive individual stock prices. The US Federal Reserve will reveal the minutes of its meeting and discussions around the raising of the debt ceiling in the US will be closely watched. The week will also see the expiry of the May derivative series, which will likely create market volatility.

Adani Enterprises and Adani Transmission today announced that they would raise funds totalling Rs 21,000 crore through the qualified institutional placement (QIP) route.

He said in the past six months, the company has repositioned and relaunched its two largest brands - Bajaj and Morphy Richards - and has just launched a new premium and aspirational brand Nex. Next, the company will reposition its cookware brand Nirlep. As of 2021-22, the margin of the consumer business was 6.8%. The company is yet to announce its 2022-23 financials.

Net Sales are expected to decrease by 1.8 percent Y-o-Y (down 12.4 percent Q-o-Q) to Rs. 1,298.5 crore, according to Prabhudas Lilladher.

Norwegian Government Pension Fund Global has increased its stake in Bajaj Electricals by 1.73% on 11 August via open market transactions, bringing its total shareholding in the electrical appliances company up to 3.03%. Meanwhile, California-based venture capitalist firm Small Cap World Fund has reduced its stake to 3.36%, down from 5.3%. Bajajs shares rose 3.23% to INR1,077 ($16.80) on the news.

The consensus recommendation from 17 analysts for the stock is a Buy. Of the 17 analysts covering the stock, 11 have strong buy and buy ratings, while only one has a sell rating. The remaining five have hold ratings.

Around 2.14 million shares, or 1.9 percent stake, of the Bajaj group company changed hands but the details of the buyers and the sellers were not immediately known

BHEL has supplied steam turbine generator sets for nearly 50 per cent of the country's total installed nuclear capacity. Its steam turbine generator set for Unit 1 (220 MW) of NPCIL's Kaiga Nuclear Power Plant in Karnataka created a world record of 962 days of continuous operation in December 2018, proving the best-integrated performance of the nuclear reactor and turbine system.

BHEL-led consortium has got an order worth over INR 9,600 crore to supply 80 sleeper class Vande Bharat trains to Indian Railways in the span of six years. All existing Vande Bharat trains currently have chair car and executive chair car classes, about which sleeper class has been in great demand for long routes.

The union government will sell up to 3.5% stake in Hindustan Aeronautics Ltd (HAL) through an offer for sale (OFS). The floor price for the OFS has been fixed at Rs 2,450 per share.

At 11.48 am, the scrip was trading 2% higher at Rs 1,125 over its previous day's closing price of Rs 1,103 apiece. On a year-to-date basis, the stock has fallen over 6%, while it has dropped over 8% in the last six months

The company's engineering and procurement segment had an order book of approximately Rs 1,200 crore in Q3.

A small negative candle was formed on the daily chart, which indicates an emergence of minor weakness from the highs

Prabhudas Lilladher recommended accumulate rating on Bajaj Electricals with a target price of Rs 1286 in its research report dated February 03, 2023.

ICICI Direct recommended hold rating on Bajaj Electricals with a target price of Rs 1275 in its research report dated February 03, 2023.

“The good news is that we continue to gain market share. We are confident about our product rollouts. We continue to roll out several new products. And in that process, we are very much on our premiumisation journey. So both from a direction of the brand and products, we are clearly coming up the curve. ”

But what we need to really look at from now on is that at such high valuations one has to really look at what is the trend in terms of volume growth because you know after a point of time when you have gained a lot of market share you become a proxy to the industry and hence your growth starts to taper off.

On the options front, the weekly maximum Call OI is placed at 18000 and then 18100 strikes while the weekly maximum Put OI is placed at 18000, and then towards 17,600 strikes. Meaningful Call writing is seen at 18000 then 18100 strikes while minor Put writing at 17800 then 17600 strikes.

"Wage hikes and income generation as such has been moderate, in the range of single digit hikes, which barely catches up with inflation. Now under this circumstance, onc cannot assume that consumers will have an unending availability of capital. Mid-6-7-8% growth rate for refrigerators, washing machines or even TVs would be my expectation for this year. "

Top stock picks: The brokerage is bullish on private banks, insurance, select industrials, consumer discretionary, automobiles and telcos. Stocks in its portfolio include Maruti Suzuki, M&M, Sun Pharmaceutical, Fortis Healthcare, Bharti Airtel, HDFC Bank, ICICI Bank, Axis Bank and SBI Life Insurance.

“A better way to play pharma would be through hospital stocks. Then we also have these domestic-oriented pharma companies like JB Chemicals or Eris Lifesciences and then the pharma MNCs. Those also are a secular growth story at this point of time because spending on medicine is going to keep on increasing as healthcare possibilities expand.”

ICICI Direct has handpicked nine stocks that can give an average return of 22% in 2023. The list includes L&T, Ambuja Cements, Bosch, Federal Bank, Sundaram Finance, Bajaj Electricals, KEC International, Mishra Dhatu Nigam and Techno Electric.

Bajaj Electricals, incorporated in the year 1938, is a Mid Cap company (having a market cap of Rs 13166.30 Crore) operating in Consumer Durables sector.

Polycab India is the market leader in wires and cables (W&C) industry with 22% share in the organized space. It boasts of an extensive product portfolio and has wide distribution reach with retail touch points of 2,05,000 - second only to Bajaj Electricals.

The revenues for the BSE500 universe grew 24 percent year-on-year and 3 percent from the previous quarter. However, the inflationary pressures escalated the input costs which resulted in a mid-single digit YoY and sequential growth in operating profit

ICICI Direct recommended hold rating on Bajaj Electricals with a target price of Rs 1275 in its research report dated November 09, 2022.

Bajaj Electricals Ltd., incorporated in the year 1938, is a Mid Cap company (having a market cap of Rs 13360.63 Crore) operating in Consumer Durables sector.

"We have delivered a PBT growth of 6 per cent in spite of revenue degrowth and absorption of high-cost inventories. EPC has delivered positive EBIT for the current quarter coupled with a strong focus on the collection of receivables," Bajaj Electricals Chairman and Managing Director Shekhar Bajaj said.

Net Sales are expected to increase by 6.9 percent Y-o-Y (up 13.3 percent Q-o-Q) to Rs. 1,392.1 crore, according to Yes Securities.

Information technology stocks across the board have rebounded after the losses in the recent sessions. Stocks such as Infosys, HCL Technologies, Mphasis, and L&T Technology Services have risen 3-5% last week.