Nirmal Bang, which hosted the company MD & Promoter Rajendra Gandhi said the Pigeon brand owner expects 15-18 per cent revenue growth and aims to expand gross margins to 40-45 per cent over the next 2–3 years.
Butterfly Gandhimathi Appliances Ltd surged 17 per cent to Rs 710. Stove Kraft Ltd soared 16.34 per cent to Rs 567.55 but trimmed gains as the session progressed.
Stove Kraft stock: Emkay Global has initiated coverage on the stock with a 'Buy' rating, saying the kitchen and home appliance player is growing significantly ahead of peers on massive cost-leadership.
On the stock-specific front, Indian Energy Exchange (IEX), Borosil, Mahindra Finance, HCL Tech, Stove Kraft, JSW Infrastructure and some other counters will be in focus today.
Stove Kraft stock fell 12.22% to Rs 438 against the previous close of Rs 498.95 on BSE. The stock has lost 21.33% in one year and fallen 13% since the beginning of this year.