Markets may trade in a narrow range; stock-specific action likely
April 09, 2021
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Stocks likely to witness action today: Srei Equipment Finance, S H Kelkar, Thyrocare Technologies, Zensar, CEAT, Emkay Global, and Salora International Indian markets are expected to trade in a narrow range with a flat opening on Friday ahead of quarterly results. Companies will start results from next week.
Global markets present mixed signals, with US markets ending firm overnight. Though Japan s Nikkei is ruling firm, others such as Korea, Australia and China are down marginally.
However, the SGX Nifty at 14,930 signals a flat opening, as Nifty futures closed at 14,924 on the NSE. With the Prime Minister ruling out a complete lockdown, Indian markets may gain strength in today s trade, said analysts. Prime Minister Narendra Modi on Thursday ruled out imposing any lockdown in the country. However, he emphasised the need to identify micro-containment zones in a mission mode.
S H Kelkar and Company (SHK) jumped 9.72% to Rs 127.60 after the company announced strong business update for Q4 March 2021.SHK, the largest Indian origin fragrance and flavours company in India, saw healthy demand and enquiries during Q4 FY2020-21, with normalization seen across both domestic and international markets. Client engagements and wins remained robust across the mid & large sized FMCG customers. Creative Flavours and Fragrances (CFF), the company s 100% wholly-owned subsidiary, also delivered steady performance during the quarter.
During the quarter, some of the company s raw materials saw moderate inflation. However, the SHK s prudent inventory management philosophy enabled it to efficiently manage the situation. This, in addition with a healthy product mix enabled the company to maintain profitability margins at healthy levels during Q4 FY21.
S H Kelkar and Company Limited - Q4FY21 Business Update
Posted On: 2021-04-08 05:29:33 (Time Zone: Arizona, USA)
S H Kelkar and Company Ltd (SHK), the largest Indian origin Fragrance and Flavours Company in India, has announced the business update for Q4 FY 2020-21.
Operational Update:
The Company saw healthy demand and enquiries during Q4 FY2020-21, with normalization seen across both domestic and international markets. Client engagements and wins remained robust across the mid & large sized FMCG customers. Creative Flavours and Fragrances (CFF), the Company s 100% wholly-owned subsidiary, also delivered steady performance during the quarter. On a consolidated basis, sales in Q4 FY 2020-21 stood at ~Rs. 397 crore (Note: 1. Provisional and unaudited figures; 2. including consolidation of CFF performance). On a like to like basis, the revenues stood healthy at Rs. 329 crore (excluding CFF contribution), delivering a solid growth of 22% YoY
S H Kelkar and Company Limited s arm to acquire 70% in Nova Fragranze S.r.1.
Posted On: 2021-04-08 05:27:51 (Time Zone: Arizona, USA)
Keva Italy S.r.1 ( Keva Italy ), Italy and Creative Flavours & Fragrances S.p.A. ( CFF ), Italy, subsidiaries of S H Kelkar and Company Limited have entered into an agreement for acquisition of 70% equity stake of Nova Fragranze S.r.1. ( Nova ), Italy on April 07, 2021. Keva Italy and CFF shall be acquiring 28% and 42% stake respectively of Nova. The effective date of acquisition shall be April 01, 2021 as per the agreement.
Incorporated in year 1992, Nova is an Italy-based company specialized in the fragrance development and marketing with focus on premium customers in hair care/beauty care segments. The acquisition would enable broadening of the group s fragrance business in Italy.