Butterfly Gandhimathi rallies 14% on strong Q4 results, crude surge; peers TTK Prestige, Stove Kraft see rub-off effect
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Shares of Butterfly Gandhimathi Appliances surged nearly 14% following strong Q4 results, with a 26.69% rise in net profit to Rs 11.44 crore. Revenue increased by 16.56% to Rs 218.17 crore. Other kitchen appliance stocks like TTK Prestige and Stove Kraft also saw gains. The rally is attributed to rising interest in energy-efficient cooking amid high crude oil prices and government appeals for lower fuel consumption. However, rising oil prices may widen India's current account deficit, leading to a weaker rupee and declining foreign reserves, according to analysts.
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