BAJAJELEC

March 19 (Reuters) - Bajaj Electricals Ltd BJEL.NS:

• TO FORM WHOLLY-OWNED SUBSIDIARY IN UAE

• TO EXPLORE SETTING UP MANUFACTURING UNIT IN INDIA WITH CAPEX OF 3 BILLION RUPEES

Source text: ID:nBSE9nVKyQ

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March 12 (Reuters) - Bajaj Electricals Ltd BJEL.NS:

• APPELLATE AUTHORITY RULES IN FAVOR OF CO, DROPS 110.5 MILLION RUPEES DEMAND

Source text: ID:nNSE73cpCn

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Feb 28 (Reuters) - Bajaj Electricals Ltd BJEL.NS:

• BAJAJ ELECTRICALS - GOT TAX ORDER WITH GROSS DEMAND OF 109.5 MILLION RUPEES

Source text: ID:nNSE2qL7Kx

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Feb 26 (Reuters) - Bajaj Electricals Ltd BJEL.NS:

• BAJAJ ELECTRICALS LTD - APPEAL AUTHORITY UPHOLDS TAX ORDER, CO TO PAY 1.9 MILLION RUPEES

Source text: ID:nNSE961MJW

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Feb 4 (Reuters) - Bajaj Electricals Ltd BJEL.NS:

• BAJAJ ELECTRICALS Q3 CONSOL NET PROFIT 333.6 MILLION RUPEES; IBES EST. 323.9 MILLION RUPEES

• BAJAJ ELECTRICALS Q3 CONSOL TOTAL REVENUE FROM OPERATIONS 12.9 BILLION RUPEES; IBES EST. 12.86 BILLION RUPEES

Source text: [ID:]

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Aug 6 (Reuters) - Bajaj Electricals Ltd BJEL.NS:

• Q1 CONSOL NET PROFIT 281.1 MILLION RUPEES, IBES EST. 323 MILLION RUPEES

• Q1 CONSOL TOTAL REVENUE FROM OPERATIONS 11.55 BILLION RUPEES

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Bajaj Electricals Ltd BJEL.NS:

• BAJAJ ELECTRICALS LTD- ANUJ PODDAR RESIGNED AS MD, CEO

Source text for Eikon: ID:nBSEgNTyB

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BENGALURU, May 14 (Reuters) - Consumer appliances maker Bajaj Electricals BJEL.NS reported a fourth straight quarter of profit decline on Tuesday, missing estimates due to sluggish demand for its lights, water heaters and kitchen appliances.

The Mumbai-based company said consolidated net profit fell to 293.1 million rupees ($3.5 million) for the three months ended March 31, from 518.5 million rupees a year earlier.

Analysts, on average, had expected a profit of 573.2 million rupees, as per LSEG data.

Revenue from its lighting products segment fell 11.3% to 2.71 billion rupees, while revenue from the segment that makes air coolers, fans, room heaters and kitchen appliances, reported a drop of 7% as consumers postponed discretionary purchases amidst persistent inflation.

Sales in its lighting products segment dropped due to lower prices of LED products in consumer lighting and a higher base effect in professional lighting, the company said in a statement.

Additionally, the company approved a proposal to borrow funds through the issuance of non-convertible debentures, up to an amount not exceeding 5 billion rupees, via private placement.

The board also recommended a dividend of 3 rupees per share for the fiscal year ended March.

Shares of Bajaj Electricals closed 3% higher on Tuesday and are down 4% so far this year.

($1 = 83.5064 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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May 3 (Reuters) - Bajaj Electricals Ltd BJEL.NS:

• TO CONSIDER A PROPOSAL FOR RAISING OF FUNDS BY WAY OF ISSUANCE OF SECURITIES ON A PRIVATE PLACEMENT BASIS

Source text for Eikon: ID:nBSE7K01Mb

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April 30 (Reuters) - Bajaj Electricals Ltd BJEL.NS:

• GETS TAX ORDER FROM ASSISTANT COMMISSION, WEST BENGAL WITH GROSS DEMAND 29.5 MILLION RUPEES INCLUDING PENALTY 1.4 MILLION RUPEES

Source text for Eikon: ID:nBSESSxPL

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BENGALURU, Feb 5 (Reuters) - India's Bajaj Electricals BJEL.NS reported its third consecutive drop in quarterly profit on Monday, as high inflation dampened festive spending and rural demand remained subdued.

Consolidated net profit slumped nearly 40% to 373.6 million rupees ($4.5 million) for the three months ended Dec. 31, following declines of 56% and 14% in the previous two quarters.

The October-December period typically marks the festival season in India, during which consumers traditionally splurge on non-discretionary products. However, demand was subdued in the latest quarter due to elevated inflation levels, which restrained expenditure on non-essential items, in both rural and urban areas, analysts said.

While the likes of Voltas VOLT.NS and Blue Star BLUS.NS benefited from demand for air coolers and fans due to warmer-than-usual temperature in the quarter, companies such as Havells HVEL.NS were hit by slowing sales of other home appliances.

"Consumer products continue to show signs of rural stress and weak consumer demand," Bajaj Electricals said in a statement.

Bajaj Electricals' total revenue fell 6.2% to 12.28 billion rupees, marking the third consecutive quarter of decline.

Sales of consumer products, which accounted for nearly 80% of revenue, dropped 8%, while sales of lighting products barely increased about 1%.

The Mumbai-based company's input costs increased 4.8% to 1.24 billion rupees.

($1 = 83.0386 Indian rupees)

(Reporting by Manvi Pant in Bengaluru; Editing by Dhanya Ann Thoppil)

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Dec 7 (Reuters) - Bajaj Electricals Ltd BJEL.NS:

• RECEIVED ORDER FROM OFFICE OF ASST. COMMISSIONER OF INCOME TAX

• CO GETS REFUND OF 111.7 MILLION RUPEES

Source text for Eikon: ID:nBSE95wDZy

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Nov 8 (Reuters) - Bajaj Electricals Ltd BJEL.NS:

• BAJAJ ELECTRICALS LTD - RECEIVED ORDER FROM OFFICE OF ASST. COMMISSIONER OF INCOME TAX GIVING EFFECT TO ORDER OF BOMBAY HIGH COURT

• BAJAJ ELECTRICALS LTD - RECEIVED ORDER REGARDING SCHEME OF DEMERGER BETWEEN HIND LAMPS, CO

• BAJAJ ELECTRICALS LTD - RECEIVED ORDER RESULTING IN REFUND OF 150.4 MILLION RUPEES FOR ASSESSMENT YEAR 2014-15

Source text for Eikon: ID:nBSE31SQ5f

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BENGALURU, Nov 6 (Reuters) - India's Bajaj Electricals BJEL.NS posted a 56% fall in its second-quarter profit on Monday, hurt by pricing pressures due to stiff competition and muted demand caused by a delayed festive period.

Its consumer products business, which includes appliances like grinders and microwaves and constitutes more than three-fourths of the total revenue, contracted by 2.9% year-on-year while its lighting business fell 7.4%.

Chairman Shekhar Bajaj, in a statement, blamed weak consumer demand and pricing constraints for the fall in the revenue in both businesses.

The kitchen appliances industry is witnessing heightened competitive pressure with the entry of fast-moving electric goods players with aggressive price points, forcing traditional players to resort to heavy discounts.

Margins in the consumer products unit were "under pressure due to price discounting in a weak environment", the company said in its earnings presentation.

Bajaj Electricals' consolidated net profit fell to 272.8 million rupees ($3.28 million) in the July-September quarter, from 620 million rupees a year earlier.

The festive season, when most Indians splurge, including on electronic items, was also delayed by a month to October this year, hurting sales in multiple consumer-facing firms.

As a result, the Mumbai-based company's revenue from operations fell nearly 4% to 11.12 billion rupees.

Bajaj Electricals shares dropped as much as 4.6% after the results, but recovered to close up 0.5%.

($1 = 83.2100 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru; Editing by Savio D'Souza)

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Oct 17 (Reuters) - Bajaj Electricals Ltd BJEL.NS:

• BAJEL PROJECTS NOTIFIED CO OF BEING AWARDED CONTRACT AGGREGATING TO 3.47 BILLION RUPEES

Source text for Eikon: ID:nBSE3NyvQ

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** Shares of Bajaj Electricals BJEL.NS rises as much as 6.9% to 1,148 rupees, their highest since July 20

** Consumer and industrial goods company wins contract worth 5.64 bln rupees ($67.8 mln) from Power Grid Corp of India PGRD.NS

** BJEL on track to rise for fifth straight session, if gains hold

** Over 58,000 shares change hands as of 09:19 IST, 0.8x the 30-day moving average

** Thirteen of the 17 analysts rate stock "buy" or "strong buy", three "hold", while one recommend s"sell"; median PT is 1,354 rupees - LSEG data

** Including day's move, stock up ~5% YTD

($1 = 83.2450 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru)

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Oct 13 (Reuters) - Bajaj Electricals Ltd BJEL.NS:

• BAJEL GOT AWARDED SERVICE CONTRACT BY POWER GRID CORPORATION OF INDIA WORTH 5.64 BILLION RUPEES

Source text for Eikon: ID:nBSE3BJyFf

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Aug 10 (Reuters) - Bajaj Electricals Ltd BJEL.NS:

• INDIA'S BAJAJ ELECTRICALS JUNE-QUARTER CONSOL NET PROFIT 371.3 MILLION RUPEES VERSUS 429.6 MILLION RUPEES

• BAJAJ ELECTRICALS JUNE-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 11.12 BILLION RUPEES VERSUS 11.29 BILLION RUPEES

Source text for Eikon: [ID:]

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** Shares of 3i Infotech Ltd TIIN.NS rise as much as 2.9% to 34 rupees

** IT firm says it has been awarded 5-year, 187.4 million rupee ($2.3 million) contract by Bajaj Electricals Ltd BJEL.NS for managed infrastructure services

** About 288,314 shares change hands by 10:34 a.m. IST, 0.4x the 30-day avg of 665,795 shares - Refinitiv data

** Stock down ~19% YTD, as of last close

($1 = 82.2975 Indian rupees)

(Reporting by Priya Sagar in Bengaluru)

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July 11 (Reuters) - 3i Infotech Ltd TIIN.NS:

• AWARDED CONTRACT BY BAJAJ ELECTRICALS LIMITED, FOR MANAGED INFRASTRUCTURE SERVICES

• TOTAL CONTRACT VALUE IS APPROXIMATELY 187.4 MILLION RUPEES

Source text for Eikon: ID:nNSE6p0f4K

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** Brokerage JM Financial says electrical consumer durables to see recovery in growth on the back of higher disposable incomes and low food inflation

** India's macro environment continues to be stable, rural demand scenario shaping up well - JM Financial note

** Stable raw material prices should "alleviate margin pressure", premiumisation and operating leverage to help margins, note says

** Brokerage says tepid demand in appliances continued in Q1FY24, unseasonal rains in March/May impacted channel offtake

** We remain positive for medium to long-term, given macro tailwinds, low penetration for some of the categories and category expansion opportunities - JM Financial analysts

** Rating house maintains "buy" on Bajaj Electricals BJEL.NS, V-Guard Industries VGUA.NS, Havells HVEL.NS and Stove Kraft STOE.NS; "hold" on Crompton Greaves Consumer Electricals CROP.NS and TTK Prestige TTKL.NS

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of Bajaj Electricals BJEL.NS rise as much as 2.81% to 1,219.75 rupees

** Rise after financial services firm Societe Generale buys 600,000 shares at 1,175 rupees per share

** Trading volume is ~122,000 shares as of 1:56 p.m. IST, nearly equal to the 30-day avg - Refinitiv data

** Stock's MACD line rose above the signal line on Wednesday, suggesting bullish momentum

** Avg rating of 18 analysts at equivalent of 'buy' with median PT of 1,301.00 rupees

** Stock down 2.31% in 2023 so far, compared to 3.4% rise in Nifty 50 index .NSEI

(Reporting by Bharath Rajeswaran in Bengaluru)

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** 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)

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May 23 (Reuters) - Bajaj Electricals Ltd BJEL.NS:

• MARCH-QUARTER CONSOL NET PROFIT 518.5 MILLION RUPEES VERSUS 393.5 MILLION RUPEES

• MARCH-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 14.90 BILLION RUPEES VERSUS 13.34 BILLION RUPEES

• FINAL DIVIDEND OF 4 RUPEES PER SHARE

• APPROVED FUND RAISING PROPOSAL

• TO SEEK SHAREHOLDERS APPROVAL TO BORROW FUNDS VIA ISSUANCE OF NONCONVERTIBLE DEBENTURES AND/OR COMMERCIAL PAPERS

• TO RAISE FUNDS UP TO 5 BILLION RUPEES

Source text for Eikon: ID:nBSE7NrSW4

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May 10 (Reuters) - Bajaj Electricals Ltd BJEL.NS:

• TO CONSIDER A PROPOSAL FOR RAISING OF FUNDS

• TO CONSIDER FUND RAISE VIA ISSUE OF SECURITIES ON PRIVATE PLACEMENT BASIS

Source text for Eikon: ID:nBSE4zR96K

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