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BAJAJ HOLDINGS & INVESTMENT LTD.

NSE : BAJAJHLDNGBSE : 500490ISIN CODE : INE118A01012Industry : Finance - NBFCHouse : Bajaj
BSE2063.6060.25 (+3.01 %)
PREV CLOSE ( ) 2003.35
OPEN PRICE ( ) 2042.45
BID PRICE (QTY) 0.00 (0)
OFFER PRICE (QTY) 0.00 (0)
VOLUME 2219
TODAY'S LOW / HIGH ( )2042.45 2142.00
52 WK LOW / HIGH ( )1471.85 3949.35
NSE2066.0065.4 (+3.27 %)
PREV CLOSE( ) 2000.60
OPEN PRICE ( ) 2010.60
BID PRICE (QTY) 2066.00 (150)
OFFER PRICE (QTY) 0.00 (0)
VOLUME 46027
TODAY'S LOW / HIGH( ) 2010.60 2145.00
52 WK LOW / HIGH ( )1460.15 3950
AnalystDate15 Feb 2020
BSECode500490
BlogURLNA
NoteDescriptionSubdued volume growth in FY20 on account of extended monsoon till midNovember. Agri and housing mix currently stood at 70:30. Based on various proposals presented by government in the budget like crop insurance, Credit facility availed to farmers, minimum support price, 100 Smart cities, AMRUT etc. leads to volume growth of both Agri as well as housing sector pipes. Lower cost of raw material in 3QFY20 expanded margin, in line with the spread of PVC to EDC prices. However in 4QFY20 margins will suppressed due to contraction in spread. PAT margins further stretched on the back of reduced tax rates. We, maintain our NEUTRAL stance on the stock with the target price of Rs. 520 (at 11x FY21E EV/EBITDA).
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