India's Carysil jumps 10% in two days as analyst sees 40% PT upside

Carysil

23/02/2023 06:12

** Shares of Carysil  CARY.NS  rises as much as 4.55% to 567
rupees, highest in over three months
    ** Kitchen appliances maker's stock jumps over 10% in the
last two sessions
    ** Uptick comes after domestic brokerage firm Systematix
initiates coverage of CARY with 'buy'; PT at 705 rupees, 40%
implied upside from last close
    ** Diversified product portfolio including steel sinks,
kitchen appliances, countertops augurs well for growth:
Systematix
    ** Plenty of opportunities in cross-selling with global
customers, adds Systematix and notes CARY supplying quartz sinks
to IKEA since 2021
    ** Focus on expanding its capacity over the last four years
to drive growth: Systematix
    ** About 296,341 shares change hands as of 11:31 a.m. IST,
3.4 times the 30-day avg of 88,452 shares - Refinitiv data
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))