Century Plyboards, India's Greenply shares jump on Investec recommendation

Greenply Industries

12/12/2023 09:06

** Shares of home improvement firms Century Plyboards
(India)  CNTP.NS  and Greenply Industries  GRPL.NS  up 4.7% and
3.1%, respectively 
    ** Brokerage Investec says CNTP its "top pick", followed by
GRPL
    ** Building materials sector offers long growth pathway,
profit pool for larger incumbents to grow forward - Investec
says in note
    ** Adds, cost control critical due to high share of
unorganised players; Century, Greenpanel Industries  GREP.NS 
navigated well over FY19-23 
    ** Investec recommends "buy" on Century and Greenply, "hold"
on Greenpanel and Greenlam Industries  GEEN.NS  
    ** Brokerage retains rating order, expects gradual shift
from unorganised to organised
    ** GREP up 1.4% while GEEN down 0.6%
     

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))