India's Kajaria Ceramics extends drop after reporting hit from fraud

Kajaria Ceramics

24/12/2025 09:50

** Shares of Kajaria Ceramics KAJR.NS extend fall, down nearly 4% to 977 rupees on the day

** Stock set for seventh straight session of losses

** Co on Friday reported fraud to the tune of 200 million rupees at unit; financial impact to be recognised as an exceptional item in FY26, with about 60 million rupees recovered

** Brokerage Emkay says embezzlement, spanning the last two years, reflects company's earlier weak practices

** While the event has negative implications for the overall governance and controls, the management has handled it effectively; we do not see this event impacting valuations - Emkay

**  Brokerage maintains estimates for FY27/28; retains "BUY" and PT of 1,550 rupees

** KAJR rated "buy" on avg by 28 analysts; median PT at 1,310 rupees - data compiled by LSEG

** YTD, down ~16%

 (Reporting by Komal Salecha)

 ((Komal@thomsonreuters.com;))