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IEX, L&T Infotech, TTK Prestige and two other stocks that have ignored the market mood to hit a one-year high

<ul><li><keyword id="186975" type="COMPANY" weightage="20" keywordseo="TTK-Prestige">TTK Prestige</keyword>'s chairman <keyword id="531945" type="ORGANIZATION" weightage="20" keywordseo="TT-Jagannathan">TT Jagannathan</keyword> in <a href="https://twitter.com/CNBCTV18Live/status/1326372055789559809?s=09">an interview </a>revealed that the company saw a 15% jump in its sales in October and would have seen ₹75 crore more sales had it not run out of stock. </li><li>Jagannathan said the cookers didn't do well this time and the sales were down 20% in August September and October </li><li>The company's revenues from e-commerce channels grew at the fastest rate, with the overall share rising to 25% in the first quarter up from 12% earlier. </li><li>The chairman also revealed that the company is looking to double its capacity by April next year. </li><li>There are at least three emerging trends visible in the company’s experience. </li></ul>India's largest kitchen appliances maker TTK Prestige saw a staggering demand for its products in October. The company's chairman TT Jagannathan in <a href="https://twitter.com/CNBCTV18Live/status/1326372055789559809?s=09">an interview with CNBC TV18</a> revealed that the company saw a 15% jump in its sales in October and would have seen ₹75 crore more sales had it not run out of stock. The company’s latest quarterly report showed a 18% drop in profit but things may now be turning around. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TTK Prestige </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">July-Sep 2021 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Growth over same period last year </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹644.22 crore </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.17% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹65.44 crore </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-18.54% </td></tr></tbody></table> Not surprisingly, the company is looking to double its capacity by the end of the financial year in March 2021. "What we are making, we are up to 100 percent now. In the month of November, even in October, we had problems with part shortages, handles, and packaging, and so no. Now we are on speed, but it is not the same thing with our vendors, they are still coping," Jagannathan said There are at least three emerging trends visible in the TTK Prestige experience. <ul><li>On the positive side, e-commerce has come to the rescue of a legacy business at a time when supply chains have been disrupted. The company's revenue from e-commerce channels grew at the fastest rate, with the overall share rising to 25% in the first quarter up from 12% earlier. That has also led to a smaller margin, which has shrunk by 260 basis points, according to a JM Financial report. 100 basis points make for a percent. </li></ul><ul><li>What people buy online has been different: TTK Prestige is known for its pressure cookers but it sold more of other appliances in recent months. "Cookers didn't do well; it is a base effect. August, September, October cooker sales were 20% lower," he added.</li></ul> <div type="image" title="TTK Prestige portfolio" msid="79169414" hostid="261"></div> <ul><li>The supply disruption from China continues to hurt companies. "We have shifted all procurement from China to India, that is why we were having shortages in stock. The market is booming, we could have sold ₹75 crore more in September if we had the stock," he added.</li></ul>There may be more gains on the way The share price of TTK Prestige has gained over 18% since the beginning of this fiscal year. The arrival of Dhanteras and Diwali is also expected to bring more business to the company, making the analysts believe that the stocks can gain more in the near future. <div type="image" title="TTK Prestige share" msid="79169430" hostid="261"></div> “The company continues to be virtually debt-free and have substantial free cash worth | 300 crore. With earnings in the short-term expected to be negatively impacted, TTK, through its strong promoter pedigree and brand patronage, is expected to tide over the current situation better than smaller peers," the ICICI report dated August 11 said. SEE ALSO: <a href="https://www.businessinsider.in/thelife/news/the-worlds-longest-flight-just-quietly-touched-down-in-new-york-heres-why-you-havent-heard-anything-about-it-/articleshow/79161300.cms" data-type="tilCustomLink">The world's longest flight just quietly touched down in New York. Here's why you haven't heard anything about it.</a> <a href="https://www.businessinsider.in/stock-market/news/samvat-2077-bharti-airtel-infosys-icici-bank-sbi-varun-beverages-and-can-fin-homes-stocks-are-among-the-top-diwali-picks/articleshow/79167128.cms" data-type="tilCustomLink">Samvat 2077: Bharti Airtel, Infosys, ICICI Bank, SBI, Varun Beverages and Can Fin Homes stocks are among the top Diwali picks</a>

India's largest kitchen appliances maker ran out of stock despite factories operating at full capacity

<keyword id="12341832" type="General" weightage="20" keywordseo="dakshin-haryana-bijli" source="Orion">Dakshin Haryana Bijli</keyword> Vitran Nigam (<keyword id="80255" type="General" weightage="80" keywordseo="dhbvn" source="Orion">DHBVN</keyword>) has announced to waive surcharge on electricity bills of more than 30,000 consumers in <keyword id="11900977" type="General" weightage="100" keywordseo="gurugram" source="Orion">Gurugram</keyword>, officials said. These connections were disconnected by the department for non-payment of bills till June 30. To get the surcharge waived, consumers will have to apply by November 30, they added. In Gurugram, more than 30,000 consumers in both the circles of DHBVN have outstanding bills of ₹190 crore. This includes a surcharge of about ₹35 crore. After waiving the surcharge by the department, the consumers will have to pay around ₹155 crore. After waiving the surcharge, the department will restore their connection on depositing at least 25 per cent of the original electricity bill. The outstanding amount can be paid in instalments. According to the officials, consumers with domestic, non-domestic, agricultural and industrial connections are included in the category of non-deposit of electricity bill, but the arrears on domestic and non-domestic consumers are more. "The department has taken initiative to give relief to the consumers. Consumers can apply for waiver of surcharge till November 30," DHBVN Chief Engineer, K.C. Agrawal said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/iex-lt-infotech-ttk-prestige-and-two-other-stocks-that-have-ignored-the-market-mood-to-hit-a-one-year-high/slidelist/87132594.cms">IEX, L&amp;T Infotech, TTK Prestige and two other stocks that have ignored the market mood to hit a one-year high</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/mestastop-raises-1-3-crore-funding-from-iim-ahmedabad-incubator/articleshow/87131734.cms">IIM-Ahmedabad incubator invests in an under-trial AI startup that can possibly predict cancer and lead to drug discovery</a>

Surcharge on power bills of 30,000 consumers to be waived in Gurugram, say officials

<ul><li>Essential fuels like petrol and diesel are already too expensive.</li><li>The <keyword id="1881337" type="PERSON" weightage="20" keywordseo="rise-in-food-prices">rise in food prices</keyword> is relatively low compared to last year but still rising fast.</li><li>From <keyword id="6357252" type="DOMAIN" weightage="20" keywordseo="Hero-MotoCorp">Hero Motocorp</keyword> to <keyword id="6912" type="LOCATION" weightage="20" keywordseo="maruti">Maruti</keyword>, from Havells to Blue Star, from <keyword id="186975" type="DOMAIN" weightage="20" keywordseo="TTK-Prestige">TTK Prestige</keyword> to Finolex, companies are looking to hike prices to meet rising costs.</li><li>Meanwhile, falling savings and rising household debt, coupled with an uncertain future due to the second wave of COVID-19 infections, is likely to put severe pressure on people’s finances and their confidence.</li></ul>The year 2020 was bad but 2021 has hardly been a relief for Indian families. The second wave of COVID-19 cases has filled WhatsApp chats (and other social media) with fearful exchanges about the possibility of yet another lockdown. The possible dent in consumer confidence, which improved in January, may take a further knock from rising cost of everyday essentials. What makes this threat to people’s livelihood even worse are the rising prices of daily essentials and the depleted savings. To top up the miserable feeling, the salaried class in the private sector is going to see a fall in take home pay due to <a href="https://www.businessinsider.in/personal-finance/news/your-take-home-salaries-could-shrink-sharply-in-april-with-indias-new-definition-of-wages/articleshow/81631662.cms#:~:text=India's%20new%20labour%20codes%2C%20which,like%20gratuity%20and%20leave%20encashment.">the new definition of wages that kicks in</a> from April 1. Food and fuel are already taking a big chunk out of people’s earnings Essential fuels like petrol and diesel are already too expensive. At 8.76%, food inflation was already high in February 2020. So compared to that a 4.25% rise in food prices in February this year may seem slower but it is still significant. <div type="image" title="B3FC84F1-0AB9-4D7E-BB9E-EB94502CE6E9_edited" msid="81667538" hostid="261" caption="&amp;lt;p&amp;gt;Attendant shows price of fuel at a petrol pump in Nagpur&amp;lt;/p&amp;gt;"></div> While the Reserve Bank of India (RBI) expects prices to be stable hereon, any supply disruption due to measures taken to curb the spike in COVID-19 cases will only make it worse. Raw materials such as palm oil, copra and edible oils have risen sharply. Since price hikes have been quite limited over the past two years, Dabur has room to raise prices this year, the management told analysts recently. The company sells everyday items like toothpaste and fruit juices to branded honey and mosquito repellents. Soap makers have already hiked prices by 5–6%, and another round of a 3% hike is likely, an Edelweiss report dated March 19 said. Crude oil prices are up 26% compared to a year earlier, which makes nylon more expensive. That, in turn, will increase prices of cotton that is a competing commodity. Wholesale prices of cotton are already up 24% between October 2020 and February this year. And that could, eventually, reflect in the prices of textiles and apparels. Hooked to WhatsApp, Facebook, Instagram or Youtube? Prepare to shell out more The glory days of India’s famous dirt-cheap mobile data plans are well behind us. The market is shrinking, effectively, into <a href="https://www.businessinsider.in/business/telecom/news/how-the-latest-spectrum-auction-may-affect-your-mobile-phone-bills-and-quality-of-network-service/articleshow/81325496.cms">a duopoly between Airtel and Reliance Jio</a>. While Vodafone Idea is getting relegated to the margin, the Aditya Birla Group company may have to increase tariff to stay in the game, allowing Mukesh Ambani and Sunil Mittal to follow suit. So mobile bills are going to get more expensive. <div type="image" title="man on mobile phone_edited" msid="81667557" hostid="261" caption="&amp;lt;p&amp;gt;The market is shrinking, effectively, into a duopoly between Airtel and Reliance Ji0, which could result in a hike in prices of data&amp;lt;br&amp;gt;&amp;lt;/p&amp;gt;"></div> Cost of metals like steel, aluminium, palladium, platinum and rhodium are up 30% in the last six months, according to JM Financial. These are key inputs for automobiles and the rise in prices reflect in the cost of buying with a lag of a few months. No wonder, India’s largest motorbike maker Hero MotoCorp just announced <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/b4e500a3-9a79-4dc6-b18d-ec23916af252.pdf">a hike of up to ₹2,500 per unit from April 1</a>. Other major players in the two-wheeler space like Bajaj Auto and TVS Motor have already hiked by 2-3% in the last few months, over and above a 20% rise in the last couple of years due to the shift to BS-VI models to reduce pollution. Those who planned to buy cars may have to shell out more too. <a href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-to-increase-price-of-cars-from-april-2021/articleshow/81632209.cms">Maruti Suzuki</a> and <a href="https://www.businessinsider.in/business/auto/news/nissan-india-to-increase-prices-of-all-models-for-nissan-and-datsun-from-april-1/articleshow/81647750.cms">Nissan</a> have already announced that the rising price of raw materials will force these companies to raise prices in April. <div type="image" title="maruti_edited" msid="81667591" hostid="261" caption="&amp;lt;p&amp;gt;Cars at a Maruti dealership in New Delhi&amp;lt;/p&amp;gt;"></div> India’s <a href="https://m.economictimes.com/markets/stocks/news/ttk-prestige-raised-prices-by-4-5-price-so-far-will-take-more-hikes-during-the-week-t-jagannathan/videoshow/79795003.cms">largest consumer appliances maker, TTK Prestige</a>, known for its pressure cookers hiked prices, on average, by 9% across product categories including mixer grinders and gas stoves. The company’s smaller peer Butterfly Gandhimathi has hiked prices by 5% in December but, yet another one, Hawkins hasn’t followed suit yet. The price of copper is near an all-time high nearly twice of what it was five years ago. So, cable makers like Finolex Cables and Polycab have already passed the pressure on to their customers. KEI Industries, which makes cables, is revising prices every 15 days based on the prices of the key raw material copper, Edelweiss said. And, that means the cost of production is significantly higher for electrical appliance makers like Havells and V-Guard Industries. Especially in the case of V-Guard, which is popular for its inverters and voltage stabilisers, over 46% of the cost is copper, according to analysts at Edelweiss. Air cooler major Symphony raised prices in January, long before the summer sun started to sting. Why will air conditioners be left behind? Blue Star, which raised prices by 5-8% in January, will push prices further up by another 3-5% from April, <a href="https://economictimes.indiatimes.com/industry/cons-products/durables/blue-star-to-increase-prices-in-first-week-of-april-md/articleshow/81648037.cms">Managing Director B Thiagarajan told the Economic Times on March 23</a>. A lot of dream homes were stalled by the pandemic and the lockdown. While the construction of these homes has resumed in full gusto, the cement needed to build these is at least 7-8% on average in the last one year. Dealers told analysts at Emkay Global that companies like Ultratech, ACC and Ambuja Cement tried to increase prices again, by ₹10-20 a bag, but it has not been implemented yet. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[]]></cdata></div> There is added pressure on families in terms of healthcare, either in terms of COVID-19 treatments or the cost of vaccination or both. Even for salaried employees in India, who form a small proportion of the total workforce, the <a href="https://www.businesstoday.in/sectors/jobs/india-inc-to-offer-77-average-salary-hike-in-2021-aon/story/432174.html#:~:text=Global%20professional%20services%20firm%20Aon's,6.1%20per%20cent%20in%202020.">average rise in remuneration is likely to be 7.7%</a>. But a big chunk of the rise may not land in their bank accounts ⁠— it will go into provident fund and gratuity contribution, instead⁠ — because the new labour codes would have kicked in from April 1. Of course, if the second wave triggers another economic crisis, many families may not even have the same amount of cushion from their past savings. In the last five years, the average annual household savings in India has grown 64%. However, in the same time, average household debt has increased 133%, according to the latest data from the RBI. None of this would be comforting for households staring at a limited income and an uncertain future. SEE ALSO: <a href="https://www.businessinsider.in/science/environment/news/inequality-is-only-increasing-in-india-the-resulting-lack-of-trust-may-make-climate-change-a-tougher-challenge-to-tackle/articleshow/81666431.cms">Inequality is only increasing in India — the resulting lack of trust may make climate change a tougher challenge to tackle</a> <a href="https://www.businessinsider.in/stock-market/news/anupam-rasayan-ipo-lists-at-520-per-share-on-the-india-stock-exchange/articleshow/81663145.cms">Anupam Rasayan fails to dazzle on its stock market debut – shares down by nearly 8% soon after listing</a> <a href="https://www.businessinsider.in/business/auto/news/elon-musk-announced-now-you-can-buy-tesla-cars-with-bitcoin/articleshow/81667459.cms">You can now buy a Tesla with Bitcoin, tweets Elon Musk</a>

From Maruti to Nissan, from Hero to Havells, from cotton to cement– everyday products are set to get more expensive in India

<ul><li>Shares of fast moving consumer goods company fell 5% after the company reported lower than expected volume growth along with cautious commentary.</li><li>The company reported 9% year-on-year growth in net profit to ₹2,187 crore as against ₹2,009 crore in the same quarter last year.</li><li>Further, the company said they remain cautiously optimistic about demand recovery.</li></ul>Shares of consumer goods company <keyword id="6365619" type="General" weightage="20" keywordseo="hindustan-unilever" source="Orion">Hindustan Unilever</keyword> (HUL) fell as much as 5% on Tuesday after the company reported its September quarter earnings. Although the company reported 9% year-on-year growth in net profit to ₹2,187 crore as against ₹2,009 crore in the same quarter last year, investors were disappointed on lower than expected volume growth. The company delivered 4% year-on-year volume growth in the July-September quarter lower than estimates of 5-7%. Food segment that includes products like Horlicks, Kissan, Bru, Kwality Wall’s saw a slowdown in revenue growth. Food segment grew only 7% in the September quarter as against 12% in the June quarter. Hindustan Unilever attributed the dull growth in the food segment to reasonably high sales in the previous quarters. <div type="image" title="HUL cchart" height="900" width="1200" msid="87136921" hostid="261"></div> The company has declared a dividend of ₹15 per share in this quarter. Adding to it, the company gave a cautious remark on the demand recovery. “Looking forward, we remain cautiously optimistic about demand recovery,” said Sanjiv Mehta, chairman and managing director of HUL. Meanwhile, muted consumer sentiment with rising inflation bothered the (fast moving consumer goods) FMCG major. “September quarter witnessed a sequential improvement in trading conditions, albeit remained challenging with unprecedented levels of input cost inflation and subdued consumer sentiments,” added Mehta in a statement to stock exchanges. Cautions comments by HUL will impact the outlook for the sector and competing players like <keyword id="75190" type="General" weightage="20" keywordseo="nestle" source="Orion">Nestle</keyword>, <keyword id="6359432" type="General" weightage="20" keywordseo="britannia" source="Orion">Britannia</keyword>, and <keyword id="6357073" type="General" weightage="20" keywordseo="itc" source="Orion">ITC</keyword>. Shares of other FMCG players also ended lower on October 19. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FMCG companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock change on October 19 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Marico </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dabur </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1% </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/iex-lt-infotech-ttk-prestige-and-two-other-stocks-that-have-ignored-the-market-mood-to-hit-a-one-year-high/slidelist/87132594.cms">IEX, L&amp;T Infotech, TTK Prestige and two other stocks that have ignored the market mood to hit a one-year high</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/news/dmart-is-continuing-to-do-what-it-knows-best-but-the-street-wants-more/articleshow/87113806.cms">DMart is continuing to do what it knows best but the street wants more</a>

Horlicks and Boost maker HUL sees slowdown in food segment in the last three months

<ul><li>The ₹412 crore IPO of kitchen appliances manufacturer Stove Kraft is now open for public subscription. </li><li>The IPO will remain open for subscription until January 28. </li><li>The shares were commanding a premium of ₹80-90 in the grey market over the set price band of ₹384-385 per share.</li><li>“Company’s brand value, margins and return on capital are lower than its peers so it won’t get such a premium valuation like its peers,” Angel Broking said in its report. </li></ul>The ₹412 crore initial public offering of kitchen appliances manufacturer Stove Kraft is now open for public subscription. This would be the fourth company to launch an IPO this year and second stake sale by private equity firm Sequoia Capital, which recently pared stake in Indigo Paints. The public issue has received mixed reviews from the brokerages, but the grey market is ready to pay a hefty premium for its shares. The shares were commanding a premium of ₹80-90 in the grey market over the set price band of ₹384-385 per share. However, the grey market is not an official measure of the market premium. But it is a fair indicator of demand for the shares in the market. Streets View: <keyword id="10631795" type="UNKNOWN" weightage="20" keywordseo="stove-kraft-ipo">Stove Kraft IPO</keyword> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td></tr></tbody></table> Expensive valuation, weak financials, high manufacturing efficiency and others that led to mix reaction from analysts Aggressively valued IPO According to Angel Broking, the company has priced its issue at 34.5 times the earnings per share in the last 12 months. The metric is called price-to-earnings (P/E) ratio, which shows the price that the market is willing to pay for a stock based on its earnings. Higher the P/E, the more expensive the stock. Bigger peers like TTK Prestige and Hawkins Cookers, get a multiple of 61 times and 47.5 times respectively. While Stove Kraft seems cheaper, analysts aren’t very excited. “Company’s brand value, margins and return on capital are lower than its peers so it won’t get such a premium valuation like its peers,” the brokerage said. <div type="Article" hostid="261" msid="80442243" title="An American electric car maker explains why it took a different route than Elon Musk’s Tesla, Tata Motors or Mahindra" mstype="2" mssubtype="0"></div> Weak financials According to Reliance Securities, the Stove Kraft financials have not been “encouraging” despite seeing a remarkable improvement in margins in the past fiscal year. Even Angel Broking said that the profit for the last financial year ending March 2020 was driven by cost-cutting, which is not “sustainable”. <div type="image" title="Stove Kraft" msid="80444510" hostid="261"></div> The company’s net profit stood at mere ₹3.2 crore in FY20, which improved to ₹28.8 crore in the first half of 2021. However, Reliance highlighted that the company’s net worth stands at negative ₹30 crore as of September 2020. Lags behind its peers The analyst reports highlighted that despite being into operation for more than two decades and setting up a strong distribution network, it has not delivered up to the mark results. The company's business performance is substantially dependent upon its Pigeon and Gilma brands', which have been around for over 15 years. But, according to ICICI Direct, the company’s inability to maintain and promote the brand portfolio can impact future revenue growth. <div type="image" title="Stove kraft market share" msid="80444519" hostid="261"></div> Positives for Stove Kraft's ₹412 crore IPO Diversified kitchen and home appliances portfolio Since its inception, Stove Kraft has grown from a single brand small LPG stove manufacturing company to become one of India's leading manufacturers of kitchen appliances. Along with Pigeon and Gilma, the company has a Licensing agreement to manufacture small domestic appliances under the brand 'Black and Decker'. Expanding business The company recently expanded its production capacity from 19.5 million units per annum to 38.4 million units per annum. The facilities are backwards integrated with the ability to in-house manufacture components required for its products, which reduces its dependence on third-party suppliers and OEMs for its components. The company has an integrated facility at Bengaluru comprising 12 manufacturing units to manufacture pressure cookers, non-stick cookware, hard-odized cookware, mixer grinders, and induction cooktops LPG stove, glass cooktops, IR thermometer and handy vegetable chopper. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/new-realme-stores-in-india-and-ceo-says-there-is-plan-for-new-devices/articleshow/80443801.cms" data-type="tilCustomLink">Realme plans to open 500 new stores in 2021⁠— the CEO reveals the company will go beyond smartphones in the 5G era</a> <a href="https://www.businessinsider.in/budget/news/indias-co-working-sector-wants-recognition-under-real-estate-tax-benefits-as-flexible-workspaces-aim-for-a-significant-revival-in-the-post-covid-era/articleshow/80431768.cms" data-type="tilCustomLink">India’s co-working sector wants recognition under real estate, tax benefits as flexible workspaces aim for a significant revival in the post-COVID era</a>

Sequoia-backed Stove Kraft IPO: The hefty grey market premium is not in sync with what analysts have to say

Both the <a href="http://www.businessinsider.in/searchresult.cms?query=Nifty">Nifty</a> and the <a href="http://www.businessinsider.in/searchresult.cms?query=Sensex">Sensex</a> are down for the third day in a row on Tuesday as sustained selling across the board hit stocks. Here is a snapshot of the trend in the cash market in mid-afternoon trade.
 BROADER INDICES: <keyword id="6354813" type="COMPANY" weightage="60" keywordseo="nifty">Nifty</keyword> lost 1.7% to 7,833 points <keyword id="6484188" type="CITY" weightage="60" keywordseo="Sensex">Sensex</keyword> down 1.6% to 25,853 points CNX 100 dropped 1.7% to 7,980 points CNX 200 fell 1.7% to 4,120 points CNX 500 fell 1.6% to 6,561 points CNX Small Cap dropped 2% to 5,062 points CNX Mid Cap slipped 1.5% to 12,864 points 

	SECTORIAL INDICES

	Bank Nifty plunged 3.2% to 16,601 points

	CNX PSU Bank lost 3.8% to 3,078 points

	CNX Metal dropped 2.9% to 1,779 points

	CNX Finance lost 2.7% to 6,807 points.
 

	TOP LOSERS ON NIFTY

	Punjab National Bank

	Bank of Baroda

	Idea

	Kotak Bank
 

	TOP GAINERS ON NIFTY

	<a href="http://www.businessinsider.in/searchresult.cms?query=TCS">TCS</a>

	<a href="http://www.businessinsider.in/searchresult.cms?query=Infosys">Infosys</a>

	<a href="http://www.businessinsider.in/searchresult.cms?query=Tech+Mahindra">Tech Mahindra</a>

	<a href="http://www.businessinsider.in/searchresult.cms?query=Sun+Pharma">Sun Pharma</a>
 

	VOLUME BUZZERS

	Trent

	Grindwell Norton

	TTK Prestige

	Rolta India
 

	NEW HIGHS

	Dishman Pharma

	Torrent Pharma

	D S Kulkarni

	Themis Medicare
 

	NEW LOWS

	ACC

	Federal Bank

	IDFC

	Electrosteel Steels
 

	ADVANCE-DECLINE RATIO

	NIFTY: 7/42

	SENSEX: 5/25

	FUTURES: 11/150

	BROADER MARKET: 542/1955 
	 
	Image credit: Indiatimes

Here's how the Cash Market is trading today

<ul><li>The price of Indian white goods and durables have increased as much as 20% in the last two years due to inflation.</li><li>The price of copper, steel and aluminium — the key raw material in this sector — have corrected in the last three months.</li><li>White goods items include ACs, fridge, microwaves and washing machines, which are considered a luxury in India.</li></ul>The premium you have been paying on all your household electronics like ACs, fridge, microwaves and washing machines may come off sooner than expected as companies look to pass on the benefits of falling input costs in the festive season. The price of copper, steel and aluminium — the key raw materials in this sector — have corrected in the last three months, after reaching all-time highs. This correction will directly benefit white goods manufacturers — like Bajaj Electricals, Bluestar, Crompton, Havells, Voltas, and Whirlpool to name a few — as procurement of raw material gets more economical. Copper is 21% cheaper, steel is 19% cheaper and aluminium is 36% cheaper from their April levels this year, according to a recent report by ICICI Securities. This, coupled with the fact that customers have been paying over 20% extra on these household durables since the start of the Covid-19 pandemic two years ago, will increase margins for these companies. “With a correction in input prices, the need to raise prices has declined. We believe a breather was essential considering durable companies have raised prices incessantly in the past two years. The cumulative price hike was higher than 20% in the past two years,” the brokerage firm added. <cmsannotation type="cmsannotation" annotationid="So will the prices go down?" comment="subhead" text="So will the prices go down?">So will the prices go down?</cmsannotation> Not exactly, but that is simply because the white goods and durables industry usually carries a larger inventory. The companies may want to clear their old stock before selling newer items produced with cheaper raw material. But that isn’t necessarily bad either. ICICI Securities believes that the increased margins will push the manufacturers of ACs, refrigerators, microwaves and washing machines to raise their advertising efforts and offer better discounts to the customer. The case for the customer strengthens as these developments come in the second half of the year, with the festive season just a few months away. “We do not model durable companies to pocket all the benefits and expect them to invest gains [in four areas],” the ICICI report added. One of the areas the companies are likely to invest in is advertising as ad-spends have remained on the lower side for the past three years. Secondly, they are likely to increase their spending in research and development and launch a range of new products. The companies will also increase their trade schemes and discounts. Lastly, they are likely to increase the number of consumer offers to gain market share from smaller or unorganised players, the report added. The only thing going against the industry, in terms of manufacturing, is crude oil prices that have stayed above the $100/a barrel level for most of 2022. A higher-than-expected increase in crude prices could shave off the benefits of lower input costs and pressure the margins of white goods and durable companies. <cmsannotation type="cmsannotation" annotationid="How will the industry perform?" comment="subhead" text="How will the industry perform?">How will the industry perform?</cmsannotation> ICICI Securities is quite positive about the white goods and durables sector as it counts on strong return ratios, healthy growth potential and low penetration levels. “We also expect the migration from unorganised to organised sector to steadily generate value. Havells India and Crompton Greaves are our top picks,” the firm added. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rating </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target Price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3M India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BUY </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹26,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amber </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ADD </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,280 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Electricals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ADD </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,035 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bluestar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HOLD </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,047 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Crompton Cons. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BUY </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹504 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Dixon </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HOLD </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,950 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Havells </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BUY </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,644 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Orient Electrics </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ADD </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹285 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Polycab </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HOLD </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,500 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TTK Prestige </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BUY </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹975 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">V-Guard </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ADD </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹250 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Voltas </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HOLD </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,033 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Whirlpool </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BUY </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,000 </td></tr></tbody></table>Source: ICICI Securities Research White goods consist of LED TV, air conditioners, refrigerators, washing machines, dishwashers and microwaves, items which are considered luxury. A report by BNP Paribas, released in May, noted that the consumer electricals industry is witnessing a market shift from the unorganised to the organised one, thanks to demonetisation, GST implementation and the pandemic. The company believes that one in three consumer electrical items sold in the market is still in the unorganised sector, which gives the players in the organised sector a lot of room to grow. “The Indian consumer durables sector is still nascent, given low penetration levels of various products, especially white goods,” the report added. SEE ALSO <a href="https://www.businessinsider.in/retail/news/delhi-to-have-its-own-version-of-the-dubai-shopping-festival-starting-2023/articleshow/92698118.cms" data-type="tilCustomLink">Delhi to have its own version of the Dubai shopping festival starting 2023 </a> <a href="https://www.businessinsider.in/business/corporates/news/indias-biggest-companies-spend-nearly-11-lakh-crore-on-employee-expense-last-year/articleshow/92690317.cms" data-type="tilCustomLink">If you thought techies got the biggest hikes last year, think again...</a> <a href="https://www.businessinsider.in/business/news/no-service-charge-on-restaurant-bill-will-impact-waiters-servers-kitchen-staff/articleshow/92668785.cms">Remember to tip your waiter, there is no more service charge on your bill</a>

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