HDFC Securities sticks with 'Reduce' on Bajaj Electricals, target Rs 315
Brokerage retains cautious stance citing competitive intensity and margin pressure, even as healthy demand persists. New leadership is clearing channel inventory, trimming capex, and pushing into switchgears, solar, and wires to diversify beyond core appliances.
HDFC Securities retains 'Reduce' on Bajaj Electricals with Rs 315 target, citing competition and margin pressures despite healthy demand. New leadership is clearing channel inventory, cutting capex, and expanding into switchgears, solar, and wires.