Bajaj Electricals stock tanks nearly 9 pc after Q2 loss

Shares of Bajaj Electricals on Wednesday dropped nearly 9 per cent after the company reported a consolidated net loss of Rs 32.54 crore for the second quarter ended September 30. The company's scrip plummeted 8.60 per cent to close at Rs 349.10 on the BSE. During the day, it tanked 8.75 per cent to Rs 348.50.

On the NSE, it plunged 8.64 per cent to close at Rs 348.90. The company had posted a net profit of Rs 29.83 crore for July-September period of the previous fiscal.

Total income for the second quarter stood at Rs 1,106.80 crore as compared with Rs 1,605.77 crore in the previous year, Bajaj Electricals said in a regulatory filing.