India's Cera Sanitaryware posts biggest intraday pct gain in over a year

Cera Sanitaryware

24/11/2022 08:25

** Shares of tiles maker Cera Sanitaryware Ltd  CERA.NS 
jump as much as 13.6% to 6,076.6 rupees, posting their biggest
intraday pct gain since Oct. 18, 2021
    ** Stock hits highest level since Oct. 20, 2021; on track
for a second consecutive session of gains
    ** "We expect tile margins to improve sequentially. We also
see demand improvement in H2FY23E due to seasonal strength and
brightening real estate scenario," say ICICI Securities analysts
in a note 
    ** Brokerage says tile companies expect FY23 exports to grow
~30%-40% helped by factors such as cheaper energy costs in India
compared to Europe and China's extended lockdown
    ** Nine out of 13 brokerages rate the stock as "buy" or
"strong buy", and 4 rate it as "hold"; median PT is 6,050 rupees
- Refinitiv Data
    ** More than 216,626 shares were traded vs the 30-day moving
avg of 14,891 shares 
    ** As of last close, CERA stock up 11.4% YTD 
 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))