stock move to higher levels we will wait for the retracement

Bajaj Holdings & Investment Ltd. (BAJAJHLDNG) is fundamentally different from a conventional operating company. It is essentially a holding and investment company, with its value primarily linked to its strategic investments in the Bajaj Group. As of June 30, 2026, its major strategic holdings included Bajaj Auto and Bajaj Finserv, while the company also has subsidiaries including Bajaj Auto Holdings and Maharashtra Scooters. Fundamental Perspective The most important number for BHIL investors is arguably not its reported quarterly profit but the value of its investment portfolio. As of 30 June 2026, BHIL's investment portfolio had a market value of approximately ₹2,34,401 crore, against a cost of ₹22,025 crore. The company reported an investment NAV of approximately ₹21,062 per share, compared with a book value of around ₹2,425 per share. This highlights the distinctive nature of the stock: a very large portion of its underlying value comes from its holdings in other Bajaj companies. From a SEBI Registered Research Analyst perspective, I would look at BHIL primarily through the lens of: Underlying NAV → market price → discount/premium to NAV → quality and growth of underlying holdings. The underlying businesses also remain important. In Q1 FY27, Bajaj Auto's consolidated PAT increased 46% YoY to ₹3,226 crore, while Bajaj Finserv's consolidated PAT increased 12% to ₹3,132 crore For investors studying this stock, I would track NAV, market price/NAV discount, Bajaj Auto performance, Bajaj Finserv performance, dividend distribution and any changes in the investment portfolio rather than relying only on the quarterly EPS number.