India's Cera Sanitaryware on course to snap 3-session rising streak; ICICI Sec cuts rating

Cera Sanitaryware

23/06/2026 07:31

** Indian building products maker Cera Sanitaryware CERA.NS falls 1.6% to 6,555 rupees, on track to snap a three-session winning streak 
** ICICI Securities downgrades stock to "add" from "buy"; keeps TP unchanged at 7,124 rupees, a 7% upside to its last close
** Brokerage maintains earnings estimates but downgrades stock due to about 40% run-up in its price over past three months
** "We believe CRS will likely witness better revenue traction going ahead aided by a pickup in demand from the retail segment and price hikes taken in the sanitaryware and faucetware segments" - brokerage
** CERA trades at forward 12-months PE of 34.1 vs industry median of 29 - LSEG-compiled data 
** 13 of 15 brokerages rate the stock "buy" or higher; their median PT is 7,100 rupees - data
** YTD, stock up 25.2% vs 2.6% fall in Nifty 500 Index .NIFTY500 

 (Reporting by Abhinav Parmar in Bengaluru)
 ((Abhinav.Parmar@thomsonreuters.com;))