Stove Kraft LtdKraft Ltd shares slipped more than 12% today after the company reported a loss of 6 crore for the quarter ended March 2023 compared to a net profit of 8.65 crore in the corresponding quarter of the previous fiscal year. Stove Kraft's shares fell 12.22% to Rs 438, against the previous close of Rs 498.95 on BSE. The shares have lost 21.33% in one year and fell 13% since the beginning of this year. The company's total shares of 0.74 lakh were changed hands, amounting to a turnover of Rs 3.30 crore. The firm's market cap fell to 1459.62cn, down from 1459.62cn.
The stock's relative strength index RSI stands at 72.7, signaling it's trading in the overbought zone. Stove Kraft stock has a one-year beta of 0.6, indicating low volatility during the period. Stove Kraft shares are trading higher than the 50-day and 100-day moving averages, but lower than 5-day, 20-day and 200-day moving averages.
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In March 2023, the firm reported a 6.40% rise in revenue to Rs 278.06 crore, compared to Rs 261.33 crore in March 2022. In Q4 EBITDA slipped 62% to Rs 5.90 crore, compared to Rs 15.51 crore in the March quarter of 2022.
On an annually basis, net profit slipped from 35.77 to 35.77 for the fiscal end of March 2023 compared to 56.22 for the fiscal end of March 2022. Revenue rose 13% to Rs 1283.85 in the March 2023 tax, compared with Rs 1136.36 for the fiscal ended March 2022.
India's top brand for appliances and home appliances, it is a top player for pressure cookers and amongst the world leaders in the sale of free-standing hobs, cooktops and non-stick cookware.
The company is also involved in the manufacturing and retail of home and kitchen solutions under the Pigeon and Gilma brands and proposes to commence manufacturing of home and kitchen solutions under the BLACK DECKER brand.
Among the stocks to watch out for today are Vedanta, ITC, Adani Ports and Torrent Power.