Hot Pursuit     17-Jan-13
TTK Prestige drops on profit booking
TTK Prestige lost 3.11% to Rs 3,615 at 09:52 IST on BSE, on profit booking after reporting good Q3 December 2012 earning at fag end of the day's trading session on Wednesday, 16 January 2013.

Meanwhile, the BSE Sensex was up 26.07 points or 0.13% at 19,843.70

On BSE, 29,231 shares were traded in the counter as against average daily volume of 14,849 shares in the past one quarter.

The stock hit a high of Rs 3,824 and a low of Rs 3,551 so far during the day. The stock had hit a record high of Rs 3,996 on 10 October 2012. The stock had hit a 52-week low of Rs 2,285 on 3 February 2012.

The stock had outperformed the market over the past one month till 16 January 2013, rising 2.71% compared with the Sensex's 2.59% rise. The scrip had also outperformed the market in past one quarter, surging 16.6% as against Sensex's 6.67% surge.

The mid-cap company has equity capital of Rs 11.32 crore. Face value per share is Rs 10.

TTK Prestige reported 27.6% rise in net profit to Rs 44.10 crore on 30.7% rise in total income to Rs 438.07 crore in Q3 December 2012 over Q3 December 2011.EBITDA margin fell to 14.18% in Q3 December 2012 from 15.91% in Q3 December 2011 due to product mix and seasonal promotions.

TTK Prestige said that given the bad market conditions in key markets in South, Q4 March 2013 presents a challenge. The guidance for topline growth as provided at the start of the financial year was 25%against which the growth for the first nine months ended December 2012 was 23.75%, the company said further adding that it is working on several strategies to get closer to the guidance of 25%.

TTK Prestige announced Q3 December 2012 earning at fag end of the day's trading session on Wednesday, 16 January 2013, when the stock settled with a surge of 6.31% to Rs 3,734.90.

Meanwhile, Fidelity Investment Trust Fidelity Emerging Markets Fund bought 65,663 shares or 0.58% stake at an average price of Rs 3,702.94 per share in TTK Prestige in a bulk deal on the NSE on Wednesday, 16 January 2013.

On 7 January 2013, TTK Prestige said it had secured Japan patent for microwave pressure cooker.

TTK Prestige makes kitchen appliances under 'Prestige' brand.

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