TTK Prestige gains on foraying into home cleaning market

TTK Prestige is currently trading at Rs. 4505.00, up by 31.65 points or 0.71% from its previous closing of Rs. 4473.35 on the BSE.

The scrip opened at Rs. 4515.00 and has touched a high and low of Rs. 4515.00 and Rs. 4505.00 respectively. So far 12 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4970.95 on 29-Dec-2015 and a 52 week low of Rs. 3520.70 on 24-Aug-2015.

Last one week high and low of the scrip stood at Rs. 4620.80 and Rs. 4416.60 respectively. The current market cap of the company is Rs. 5244.00 crore.

The promoters holding in the company stood at 70.37% while Institutions and Non-Institutions held 21.90% and 7.72% respectively.

TTK Prestige, India's largest kitchen appliance brand, has entered into the Indian home cleaning market. This will be the first time that the company is venturing beyond kitchen appliances, a category that is almost synonymous with the company for over 60 years. The new initiative, being launched under the 'Prestige Clean Home' banner, will feature a slew of unique products, including, India's first Electric Mop, Vacuum cleaner cum floor polisher and an all-purpose steam cleaner. The home cleaning category, like kitchen appliances, will have at its core, the wellbeing of the Indian home maker and market products that can potentially enhance the everyday lives of millions of women in the country.

A dedicated team of more than 50 comprising of Sourcing, R&D, Quality & Sales & Marketing teams are working on the new category. The home cleaning range will be retailed through more than 50,000 retail outlets, including the 571 Smart Kitchen stores across the country. They will also be available online at all leading ecommerce platforms. The products are currently being piloted in Bangalore, Chennai and Delhi. Prestige Clean Home is expected to constitute 5% of the company revenues in the next year.

Prestige Clean Home comprises electric and non-electric range of innovative floor, air and water care products that offers convenience and ease of use. The electric range includes Electric Mops, Vacuum Cleaner, Floor Polishers, Steam Cleaners and Air purifiers. Whilst the non-electric portfolio consists of Stick Mops, Twister Mop, Squeeze Mop, Magic mops, Spray mops, Ladders & Flip Bins.

The range of products has been especially created to take away the hassle of existing home cleaning methods and streamline the process to make it more hygienic and efficient. Prestige Clean Home will transform the way India cleans homes and will offer health benefits by eliminating dust and pollution that causes allergies and other ailments. The design aesthetic and ergonomic aspect of the products also ensures maximum comfort for the user.