Shares of Bajaj Electricals surged to a 1 week high. Know why

Shares of Bajaj Electricals, a maker of home appliances, rose to 1-week highs after the company reported a strong growth in quarterly earnings on the back of higher sales.

Bajaj Electricals said its first quarter Net Profit soared 262 percent to 20.3 crore rupees compared with 5.6 crore rupees in the same quarter a year ago. Sales during April-June rose 13.6 percent to 1,009 crore rupees from 887.6 crore rupees in the year ago period.

Bajaj Electricals rose 15.60 rupees, or 6 percent, to 276.75 rupees on the National Stock Exchange, where 11.8 lakh shares were traded by 12:15 pm compared with the 5-day average of 2.13 lakh shares.

Bajaj Electricals' market capitalisation has remained flat in the past one year to 2,700 crore rupees.

Image credit: Indiatimes