TTK Prestige is trading higher by 4% at Rs 2,724 after reporting 55% year-on-year growth in net profit at Rs 33.71 crore for the second quarter ended September 2011. Net sales grew 52% to Rs 303 crore on y-o-y basis.
Meanwhile, the board of directors of the company will meet today to consider acquisition of the kitchen appliances division of an unlisted company -- Triveni Bialetti Industries (TBI).
The maker of cookers and other kitchen appliances is proposed to buy Italian firm Bialetti’s ailing Indian unit, TBI, to expand production capabilities.
The stock opened at Rs 2,650 and hit a high of Rs 2,750 on the National Stock Exchange. A total 244,428 shares have changed hands on the counter till 1306 hours, against an average less than 100,000 shares traded daily in past two weeks on both the exchanges.