Ace investor Ashish Kacholia has purchased shares of cooking appliance maker Stove Kraft Ltd in the March quarter. Kacholia owned 1.76% stake or 5,76,916 shares of the firm in the last quarter, shareholding data show.
Holdings of promoters of the firm rose to 56.38% in the March quarter against 54.01% stake in the December quarter. FIIs reduced their holdings from 9.80% in the December quarter to 8.39% stake in the March quarter. The number of FII investors fell from 37 to 23 in the last quarter.
Mutual funds too raised their holdings in the company from 5.69% in December quarter to 8.85% in the March quarter. Stove Kraft stock ended 3.27% higher at Rs 664.85 on April 13 against the previous close of Rs 643.80 on BSE. The share stands higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.
The small cap stock has gained 38.01% in one year but lost 31.71% in 2022.
Market cap of the firm on April 13 stood at Rs 2,185 crore on BSE. The share hit a 52-week high of Rs 1134.85 on October 18, 2021 and a 52-week low of Rs 400 on May 6, 2021.
Stove Kraft reported a net profit of Rs 11.11 crore for the third quarter ended December 31, 2021 as against Rs 33.47 crore for the corresponding quarter a year ago.
Sales rose 1.12% to Rs 297.98 crore in Q3 of last fiscal against Rs 294.68 crore in the corresponding quarter of the previous fiscal.
Operating profit excluding other income slipped 56.59% to Rs 18.56 crore in the December quarter against Rs 42.76 crore in Q3 of FY20.
Stove Kraft is engaged in manufacturing and trading of kitchen and home appliances primarily under the Pigeon and Gilma brands.
It offers pressure cookers, non-stick cookware, hobs, stainless steel cooktops, gas and induction cooktops, LPG stoves, mixer grinders, chimneys, emergency lamps, ladders and cloth dryers, water bottles and flasks, cleaning and garment care products, and cooking appliances.
The company was founded in 1994 and is based in Bengaluru, India.
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