Inox Wind Ltd, General Insurance Corporation of India, New India Assurance Company Ltd and MMTC Ltd are among the other gainers in the BSE's 'A' group today, 16 October 2019.

Bajaj Consumer Care Ltd soared 19.99% to Rs 234.65 at 11:47 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 4.72 lakh shares were traded on the counter so far as against the average daily volumes of 19.43 lakh shares in the past one month.

Inox Wind Ltd surged 17.85% to Rs 37.3. The stock was the second biggest gainer in 'A' group. On the BSE, 23671 shares were traded on the counter so far as against the average daily volumes of 6462 shares in the past one month.

General Insurance Corporation of India spiked 15.19% to Rs 247.95. The stock was the third biggest gainer in 'A' group. On the BSE, 98861 shares were traded on the counter so far as against the average daily volumes of 11040 shares in the past one month.

New India Assurance Company Ltd gained 13.40% to Rs 107.5. The stock was the fourth biggest gainer in 'A' group. On the BSE, 77306 shares were traded on the counter so far as against the average daily volumes of 13799 shares in the past one month.

MMTC Ltd exploded 11.58% to Rs 15.9. The stock was the fifth biggest gainer in 'A' group. On the BSE, 2.16 lakh shares were traded on the counter so far as against the average daily volumes of 2.45 lakh shares in the past one month.

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Shares of Bajaj Consumer have slumped 19.41% in two trading sessions to end at Rs 195.55 yesterday, from a recent closing high of Rs 242.65 on Friday, 11 October 2019.

Bajaj Consumer Care's promoter, Bajaj Resources, sold 3.22 crore shares, representing 22% stake, of Bajaj Consumer Care at an average price of Rs 194.56 on Tuesday, 15 October 2019.

Fund houses like Aditya Birla Sun Life Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund and Steinberg India Emerging Opportunities Fund, were among the buyers of shares.

As on 30 September 2019, Bajaj Resources held 59.9% stake in Bajaj Consumer Care.

In March 2019, Bajaj Resources sold 6.85% stake in the FMCG firm at Rs 316.42 each through an open market transaction.

As per the company's exchange filing dated 14 October 2019, Bajaj Resources encumbered 5.61 crore or 63.38% of their total holding in the company.

Bajaj Consumer Care declared its Q2 result on Saturday, 12 October 2019. On a consolidated basis, Bajaj Consumer Care's net profit rose 11.2% to Rs 56.03 crore on a 3.2% increase in net sales to Rs 214.22 crore in Q2 September 2019 over Q2 September 2018.

With the change in corporate income tax rates, effective tax rate of the company has reduced to 17.5% from 21.5%, resulting into increase in PAT by Rs 5.73 crore for HY1 FY20 (Rs 3.05 crore for Q1 FY20 and Rs 2.68 crore for Q2 FY20).

Meanwhile, the S&P BSE Sensex was up 17 points or 0.04% to 38522.73.

On the BSE, 3.45 lakh shares were traded in the counter so far compared with average daily volumes of 46.09 lakh shares in the past two weeks. The stock hit a high of Rs 234.65 and a low of Rs 221.25 so far during the day.

The stock hit a 52-week high of Rs 399.45 on 17 Oct 2018. The stock hit a 52-week low of Rs 193 on 15 Oct 2019.

Bajaj Consumer Care has presence in the hair oil category with brands like Bajaj Almond Drops Hair oil, Bajaj Brahmi Amla Hair Oil, Bajaj Amla Hair oil and Bajaj Jasmine Hair oil. The company ventured into the skin care category with the acquisition of Nomarks brand.

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SKF India Ltd, Varun Beverages Ltd, Adani Gas Ltd, Carborundum Universal Ltd are among the other stocks to see a surge in volumes on NSE today, 14 October 2019.

Bajaj Consumer Care Ltd saw volume of 6.97 lakh shares by 14:14 IST on NSE, a 8 fold spurt over two-week average daily volume of 87066 shares. The stock dropped 7.20% to Rs.225.70. Volumes stood at 95901 shares in the last session.

SKF India Ltd recorded volume of 82036 shares by 14:14 IST on NSE, a 7.46 times surge over two-week average daily volume of 10990 shares. The stock lost 0.00% to Rs.2,100.00. Volumes stood at 29011 shares in the last session.

Varun Beverages Ltd clocked volume of 6.31 lakh shares by 14:14 IST on NSE, a 6.57 times surge over two-week average daily volume of 95975 shares. The stock lost 0.46% to Rs.618.00. Volumes stood at 81356 shares in the last session.

Adani Gas Ltd notched up volume of 56.08 lakh shares by 14:14 IST on NSE, a 6.11 fold spurt over two-week average daily volume of 9.18 lakh shares. The stock rose 11.88% to Rs.154.00. Volumes stood at 6.99 lakh shares in the last session.

Carborundum Universal Ltd recorded volume of 9.19 lakh shares by 14:14 IST on NSE, a 4.42 times surge over two-week average daily volume of 2.08 lakh shares. The stock lost 0.52% to Rs.289.00. Volumes stood at 87388 shares in the last session.

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Meanwhile, the S&P BSE Sensex was up 243 points or 0.64% to 38370.42.

On the BSE, 487 shares were traded in the counter so far compared with average daily volumes of 2,818 shares in the past two weeks. The stock hit a high of Rs 242.7 and a low of Rs 238.85 so far during the day.

The stock hit a 52-week high of Rs 423.45 on 12 Oct 2018. The stock hit a 52-week low of Rs 232.5 on 03 Oct 2019.

On a consolidated basis, Bajaj Consumer Care's net profit rose 11.2% to Rs 56.03 crore on a 3.2% increase in net sales to Rs 214.22 crore in Q2 September 2019 over Q2 September 2018.

On a standalone basis, net profit rose 10.9% to Rs 57.29 crore on a 2.6% increase in net sales to Rs 211.19 crore in Q2 September 2019 over Q2 September 2018.

Standalone EBITDA rose 2.71% to Rs 63.61 crore during the period under review. EBITDA margin was reported at 30.12% in Q2 September 2019 compared with 30.10% in Q2 September 2018.

With the change in corporate income tax rates, effective tax rate of the company has reduced to 17.5% from 21.5%, resulting into increase in PAT by Rs 5.73 crore for HY1 FY20 (Rs 3.05 crore for Q1 FY20 and Rs 2.68 crore for Q2 FY20).

Bajaj Consumer said that growth had been sluggish across channels. Rural demand witnessed substantial sequential slowdown while urban retail off takes witnessed sharp decline.

Hair oil category grew by 5.9% in volume in MAT September 2019, whereas value growth has been 11.6%. Antimarks category declined by 1.0% in volume and grew by 6.0% in value in MAT September 2019.

Bajaj Consumer Care has presence in the hair oil category with brands like Bajaj Almond Drops Hair oil, Bajaj Brahmi Amla Hair Oil, Bajaj Amla Hair oil and Bajaj Jasmine Hair oil. The company ventured into the skin care category with the acquisition of Nomarks brand.

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