TTK Prestige spurted 9.69% to Rs 3,833.20 at 14:11 IST on BSE after a foreign brokerage maintained an outperform rating on the stock.
Meanwhile, the BSE Sensex was down 9.68 points, or 0.04%, to 25,540.04.
On BSE, so far 14,000 shares were traded in the counter, compared with an average volume of 2,989 shares in the past one quarter.
The stock hit a high of Rs 3,892 and a low of Rs 3,510 so far during the day. The stock hit a record high of Rs 4,357.95 on 10 June 2014. The stock hit a 52-week low of Rs 2,700 on 18 March 2014.
The stock had underperformed the market over the past one month till 16 July 2014, falling 4.75% compared with 1.43% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 14.48% as against Sensex's 14.69% rise.
The mid-cap kitchen appliances manufacturer has an equity capital of Rs 11.64 crore. Face value per share is Rs 10.
The brokerage stated that Q1 June 2014 was a turning point and it is poised for a strong recovery in the second half (H2) of the financial year ending March 2015 (FY 2015).
The brokerage feels that recovery in TTK Prestige's revenue growth has begun, which has high operating leverage and should see an improvement in margins as sales growth returns.
It added that ramping up of exports and launch of 40-45 new stock keeping units (SKUs) in FY 2015 (estimate) will add to TTK's business.
TTK Prestige's net profit rose 0.07% to Rs 25.81 crore on 9.59% growth in total income to Rs 337.61 crore in Q1 June 2014 over Q1 June 2013. The Q1 result was announced on Tuesday, 15 July 2014.
TTK Prestige makes kitchen appliances under 'Prestige' brand.
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