India's Cera Sanitaryware rises on positive growth view

Cera Sanitaryware

29/03/2023 09:23

** Shares of Cera Sanitaryware  CERA.NS  rise as much as
6.66% to 6,630 rupees, mark sharpest intraday pct gain since
Feb. 20
    ** Stock on track for a second consecutive session of gains,
if trend holds
    ** Analysts at ICICI Securities believe CERA to be a
significant beneficiary of the ongoing uptick in housing market
    ** Brokerage forecasts model revenue/PAT CAGR of
16.6%/24.6%, respectively, over FY 22-25E led by faucetware and
sanitaryware segments
    ** Maintains "add" rating for the stock with unchanged Mar.
24E TP of 6,746 rupees
    ** CERA management indicated it is on track to achieve its
guidance of doubling turnover in 40 months from FY22 - ICICI
    ** Share price above 50-day, 100-day and 200-day simple
moving averages, suggesting bullish trend
    ** Ten of 15 analysts covering the stock have a "buy" or
"strong buy" rating while 5 have "hold"; median PT is 6,085
rupees - Refinitiv data
    ** Stock up 19.37% YTD as of last close, outperforming Nifty
500 index  .NIFTY500  which is down 8%


 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))