August 29, 2018 / 4:53 AM / 22 days ago

BUZZ-India's TTK Prestige gains after CLSA raises PT

** Shares of kitchen appliance maker TTK Prestige Ltd jump as much as 7 pct to 6888.8 rupees, post their biggest intraday pct gain since Jan 17

** CLSA raises stock’s price target to 7,725 rupees from 7,010 rupees, maintains “buy”

** Brokerage sees co as a play on “improving rural consumption and as a beneficiary of govt spending ahead of the elections” (India’s general election to be held in 2019)

** Co to benefit from India govt’s ‘Ujjwala’ scheme which provides LPG connections to families below-poverty-line; leading to growth for stoves and cookers - CLSA

** TTK’s entry into cleaning solutions and recent export orders should contribute to incremental growth - CLSA

** More than 10,831 shares change hands, compared with 30-day avg of 11,397 shares

** Four of 11 brokerages rate the stock “buy” or higher, four “hold” and three “sell” or lower; their median PT is 6,346.50 rupees

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below