Stove Kraft up on commissioning new Cast Iron Foundry at Harohalli factory

Stove Kraft share price: Shares of Stove Kraft rose as much as 3.17 per cent to hit an intraday high of Rs 784.65 per share on Tuesday, November 26, 2024. 

 

The uptick in Stove Kraft share price came after the company announced that it has commissioned the newly constructed Cast Iron Foundry at Harohalli factory.

 

In an exchange filing, Stove Kraft, said, “We wish to inform you that on November 25, 2024, the company commissioned the newly constructed Cast Iron Foundry at Harohalli factory.”

 

The Foundry’s current installed capacity is 2.2 million pieces per annum, and has been designed to reach 4.4 million pieces per annum in future, Stove Kraft revealed in a statement. 

 

According to Stove Kraft, the foundry is built at a cost of Rs 40 crore and is an automated production line capable of producing a wide range of Cast Iron Cookware and high-quality cast iron components. 

 

About Stove kraft

 

Stovekraft, an Indian company headquartered in Bangalore, Karnataka, is a prominent name in the kitchen and home appliances sector. Established in 1999 by Rajendra Gandhi, the company has become a trusted household brand in India, known for its innovative and quality-driven products. 

 

Stovekraft manufactures a wide range of kitchen appliances, including pressure cookers, cooktops, mixer grinders, toasters, chimneys, and kitchen utensils. In addition to kitchen solutions, the company also offers home essentials like emergency lamps, water bottles, flasks, aluminum ladders, mops, and storage boxes.

 

Operating under the brands Pigeon, Gilma, and BLACK+DECKER, Stovekraft caters to diverse consumer needs. Pigeon serves as the value brand, Gilma targets the semi-premium segment, while BLACK+DECKER focuses on the premium market. 

 

The company has a manufacturing facility in Baddi, Himachal Pradesh, and boasts a strong post-sales service network.

 

Stove Kraft share price history

 

Stove Kraft stock has fallen over 6 per cent in the past month, but has zoomed about 59 per cent in the last six months. On a year-to-date (Y-T-D) basis, the trove Kraft scrip has gained 67 per cent.

 

The market capitalisation of Stove Kraft is Rs 2,544 crore, according to BSE. The company falls under the BSE SmallCap category.

 

At 10:25 AM, Stove Kraft shares were trading 1.22 per cent higher at Rs 769.75 . In comparison, BSE Sensex was down 0.21 per cent at 79,938.48 levels.