Bajaj Holdings shares drop 0.35% as Sensex falls
On the technical charts, the RSI of the stock stood at 58.57.
Shares of & Investment Ltd. traded 0.35 per cent down at Rs 8399.1 at 11:26AM (IST) on Monday, even as benchmark dropped 465.14 points to 72199.33.The scrip had settled at Rs 8428.8 in the previous session. The stock quoted a 52-week high price of Rs 9355.0 and 52-week low of Rs 6259.0, respectively. As per BSE data, total traded volume on the counter till 11:26AM (IST) stood at 56 shares with a turnover of Rs 0.05 crore.
At the prevailing price, the stock traded at 15.45 times its trailing 12-month EPS of Rs 652.98 per share and 1.49 times its price-to-book value, exchange data showed.
A higher P/E ratio shows investors are willing to pay a higher share price today because of growth expectations in the future.
Price-to-book value indicates the inherent value of a company and reflects the price investors are ready to pay even for no growth in the business. The stock's Beta value, which measures its volatility in relation to the broader market, stood at 0.71.
Shareholding Details
Promoters held 51.46 per cent stake in the company as of 31-Mar-2024, while FIIs owned 11.54 per cent and DIIs 4.81 per cent.
Technicals
On the technical charts, the relative strength index (RSI) of the stock stood at 58.57. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Chartists say, RSI should not be seen in isolation, as it may not be sufficient to take a trading call, just the way fundamental analysts cannot give a'buy' or'sell' recommendation using a single valuation ratio.
Source: Stocks-Markets-Economic Times
