Nifty Consumer Durables trade lower; Whirlpool sinks 4% post Q1 earnings

Crompton and TTK Prestige advanced amidst the gloom in the sector.

Aug 11, 2021 02:08 IST India Infoline News Service

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Nifty Consumer Durables Index recovered some losses in the afternoon but continued to trade in the red zone on Wednesday. The Index had slipped over 1% in the morning. 

Whirpool of India sank 4% despite strong Q1 earnings. V Guard continued to slip while Rajesh Exports, Dixon and Amber also shed 2%. Crompton and TTK Prestige advanced amidst the gloom in the sector.

Indices opened in the green on Wednesday and later on it fell into the red zone, before trimming losses in the afternoon. At around 2.40 pm, BSE Sensex was trading at 54,396.93 down 157.73 points or 0.29% and Nifty50 at 16,244.90 down 35.20 points or 0.22%.

Nifty Consumer Durables was trading at 23,889.20 down 144.70 points or 0.60%, touching a high of 24,134.95 and low of 23,511.45 during intraday trade on Wednesday.

Whirpool of India shed 4% at Rs2,027.65 per piece. The company's total revenue from operations of Rs1,341cr in Q1FY22 up 30.5% yoy against Rs1027cr in Q1FY21. EBITDA of Rs55.5cr up by 18.7% yoy. Consolidated Profit Before Tax (PBT) at Rs34.9cr in Q1FY22 up by 42.9% yoy from Rs24.40cr in Q1FY21. Profit After Tax (PAT) stood at Rs25.5cr up by 41.7% yoy from Rs15.75cr in Q1FY21.

Rajesh Exports (down 2.23%) V-Guard (down 2.22%), Dixon (down 2.10%) and Amber (down 1.95%) also shed around 2%.

Crompton, TTK Prestige, Relaxo, Kajaria Cermics, Voltas and Orient Electric were the only companies that advanced in the Index as rest nine companies declined. 

Crompton continued to lead the pack like yesterday, to advanced 1.12% at Rs469.10 per piece. TTK Prestige followed by gaining 1% at Rs8,807.00 per piece. 

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