Newly-listed Stove Kraft jumps nearly 6 per cent

The company operates in one of the fastest-growing markets of kitchen appliances and is the owner of ‘Pigeon’ brand.

Stove Kraft Ltd is a newly-listed company on the bourses and from the date of its listing in early February, it has gained nearly 38 per cent. Stove Kraft is up by almost 5 per cent on an intraday basis, making an intraday high of Rs 622.70 per share. The company operates in one of the fastest-growing markets of kitchen appliances and is the owner of ‘Pigeon’ brand. The company is perceived to be a strong player in the booming market.  

Besides, the cooking appliances and non-stick cookware market is expected to grow at around 11 per cent in the coming years. 

With the changing lifestyles and lockdowns, an increase in kitchen appliances’ spend has been witnessed in the Indian markets. Several listed players such as TTK Prestige and Inflame Appliances are already doing exceedingly well on the bourses and have created wealth for long-term investors. 

Stove Kraft markets its products under three brands viz., Pigeon for the mass market; Gilma for the semi-premium category and Black + Decker (under a licence agreement with Black & Decker Corporation, USA) for the premium category. Meanwhile, the company is also engaged in the manufacturing of LED bulbs and other household products such as floor mops, buckets, dustbins, water bottles, etc.