TTK Prestige drops on profit booking

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Capital Market Mumbai
Last Updated : Apr 22 2013 | 2:44 PM IST

Meanwhile, the BSE Sensex was up 26.07 points or 0.13% at 19,843.70

On BSE, 29,231 shares were traded in the counter as against average daily volume of 14,849 shares in the past one quarter.

The stock hit a high of Rs 3,824 and a low of Rs 3,551 so far during the day. The stock had hit a record high of Rs 3,996 on 10 October 2012. The stock had hit a 52-week low of Rs 2,285 on 3 February 2012.

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The stock had outperformed the market over the past one month till 16 January 2013, rising 2.71% compared with the Sensex's 2.59% rise. The scrip had also outperformed the market in past one quarter, surging 16.6% as against Sensex's 6.67% surge.

The mid-cap company has equity capital of Rs 11.32 crore. Face value per share is Rs 10.

TTK Prestige reported 27.6% rise in net profit to Rs 44.10 crore on 30.7% rise in total income to Rs 438.07 crore in Q3 December 2012 over Q3 December 2011.EBITDA margin fell to 14.18% in Q3 December 2012 from 15.91% in Q3 December 2011 due to product mix and seasonal promotions.

TTK Prestige said that given the bad market conditions in key markets in South, Q4 March 2013 presents a challenge. The guidance for topline growth as provided at the start of the financial year was 25%against which the growth for the first nine months ended December 2012 was 23.75%, the company said further adding that it is working on several strategies to get closer to the guidance of 25%.

TTK Prestige announced Q3 December 2012 earning at fag end of the day's trading session on Wednesday, 16 January 2013, when the stock settled with a surge of 6.31% to Rs 3,734.90.

Meanwhile, Fidelity Investment Trust Fidelity Emerging Markets Fund bought 65,663 shares or 0.58% stake at an average price of Rs 3,702.94 per share in TTK Prestige in a bulk deal on the NSE on Wednesday, 16 January 2013.

On 7 January 2013, TTK Prestige said it had secured Japan patent for microwave pressure cooker.

TTK Prestige makes kitchen appliances under 'Prestige' brand.

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First Published: Jan 17 2013 | 11:32 PM IST

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