Buy Bajaj Electricals Ltd For Target Rs. 1450 By Angel Broking Ltd
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Bajaj Electrical: CMP-Rs1,189 Target Price:-Rs1,450
Bajaj Electrical Ltd (BEL) is a leading Indian consumer products company engaged in designing, manufacturing and marketing of consumer products (appliances, fans, lighting). BEL is also engaged in EPC business with a focus on power transmission, power distribution and illumination. We expect strong demand for consumer products and focus on debt reduction will lead to an improved RoE and RoCE for BEL, going forward. Going forward, we expect healthy profitability on the back of a strong brand with leadership position in kitchen appliances, wide distribution network & diversified product portfolio. Hence, we are positive on the stock with a buy rating.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
