India's Cera Sanitaryware hits record high as analysts see strong growth prospects

Cera Sanitaryware

12/05/2023 09:16

** Shares of Cera Sanitaryware Ltd  CERA.NS  rise as much as
7.66% to a fresh record high of 7,340 rupees 
    ** Stock of the sanitaryware, tiles and bathroom accessories
maker has jumped 10% since reporting 19% Y/Y rise in
consolidated net profit in March quarter  urn:newsml:reuters.com:*:nFWN377025
    ** Centrum Broking reiterates "buy" and raises its earnings
estimates for FY24 
    ** Antique Stock Broking reiterates "buy" and raises target
price to 8,190 rupees from 6,500 rupees
    ** ICICI Securities maintains "add" and raises target price
to 7,260 rupees from 6,746 rupees, citing scope for improvement
in sanitaryware and faucetware segments
    ** Trading volume is 112,108 shares as of 1:38 p.m. IST, 5.5
times the 30-day avg - Refinitiv data
    ** Of the 15 analysts tracking CERA, 11 maintain "buy" and
four suggest "hold"; median TP is 7,339 rupees
    


($1 = 81.7800 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))