India's Greenply, Cera jump after Axis starts with 'buy' on building products demand revival

Greenply Industries

16/07/2025 10:08

** Brokerage Axis Securities initiates coverage on Greenply Industries GRPL.NS and Cera Sanitaryware CERA.NS with "buy"

** Axis sets PT for GRPL at 385 rupees and Street-high of 8,500 rupees for CERA, implying 26% and 31% upside from last close, respectively

** Axis says the building products industry is on track for a strong recovery in demand from FY26

** Adds, Greenply is well-positioned to capitalise on structural shifts, like premium products demand, and standard norms for the wood panel and interior solutions market; expects revenue CAGR of 12% from FY24-27

** GRPL up 5.8% at 322.1 rupees, set for best day in two months; CERA rises 5.8% to 6,883.5 rupees after Axis' bullish commentary

** Brokerage says Cera is leveraging growing demand for premium bathware; expects retail demand in the segment to recover by Q2FY26

** GRPL up 4% YTD, CERA down 9%

 (Reporting by Manvi Pant in Bengaluru)

 ((Manvi.Pant@thomsonreuters.com; +918447554364;))