Bajaj Holdings Debt Free Stock To Invest in

Yesterday, the stock has gained 5.54% and ended the day at its high at Rs.71.40. And this gain is in a market which saw a sell off and it punished even companies which had posted good results.
The company has a net sales of Rs.71 lakhs and on this sales, it continues to have a staggering employee cost of Rs.3.28 crore. It posted an other income of Rs.2.17 crore. In Q2FY09, it posted its best ever PAT of Rs.12.98 crore and this was mainly on account of the interest received on Income-Tax refunds. This was at nil for Q3FY09. Infact it plans to make provision for tax and deferred tax only in Q4. Yet, its net loss for the current third quarter was at Rs.1.10 crore.
There has been talk of Blackstone wanting to buy out the 27% stake held by Western Maharashtra Development Corporation (WMDC) but that has apparently not happened. So why does this stock such a high discounting on the bourses despite the dismal performance?
Another big positive for the company is that it is totally debt-free.
So financially, the company is breaking no records but surely, thanks to its holdings, the valuation goes up tremendously. thanks