India's Stove Kraft down over 12% after Q4 swings to loss

Stove Kraft

30/05/2023 06:33

** Shares of kitchen and home solutions firm Stove Kraft Ltd
 STOE.NS  fall as much as 12.3% to 438 rupees, mark sharpest
intraday pct loss since Feb. 3
    ** Co on Monday reported a Q4 loss of 60 mln Indian rupees
($725,675.04) vs profit of 86.5 mln rupees yr ago
    ** Rev from ops rose 6.4% Y/Y, but total expenses rose
~14.1% due to rise in input costs
    ** Share price below 200-day simple moving averages but
above 50-day and 100-day SMAs
    ** More than 950,000 shares change hands by 10:51 a.m. IST,
2.5x 30-day avg of 375,279 shares
    ** Both analysts covering the stock have a "strong buy"
rating; median PT is 587.50 rupees - Refinitiv data
    ** Including session's loss, stock down 11.9% YTD


($1 = 82.6816 Indian rupees)    

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))