India's Stove Kraft rises on partnership with IKEA

Stove Kraft

19/12/2024 06:34

** Shares of Stove Kraft  STOE.NS  rise as much as 8.8% to 975
rupees, hitting their highest since Jan 2022; last up 1%
** The pressure cooker maker enters a supply partnership with
IKEA for making cookware to be sold from 2026
    ** No financial details of the partnership were disclosed
    ** Busiest session for the stock in over 1.5 months; more
than 366,000 shares change hands
    ** Avg recommendation on STOE is a "strong buy" while peer
Symphony  SYMP.NS  is rated "hold" - LSEG data
    ** STOE's median PT is at 935 rupees - LSEG data
    ** Stock surges ~106% so far this year vs a ~55% jump in
SYMP

(Reporting by Dimpal Gulwani in Bengaluru)
((dimpal.gulwani@thomsonreuters.com))