India's Kajaria Ceramics jumps on robust first-qtr profit

Kajaria Ceramics

21/07/2022 10:35

** Shares of Indian tile maker Kajaria Ceramics  KAJR.NS 
rise as much as 7.4% to 1,072.95 rupees, highest since May 30
    ** Co says its first-quarter profit more than doubled to 923
mln rupees ($11.54 mln) (https://bityl.co/DNJD)
    ** Revenue jumped nearly 80% to 10.08 bln rupees
    ** Adds recent correction in commodity prices and forecast
of a good monsoon are encouraging 
    ** Seeing healthy traction in real estate sector despite
high input costs and increasing interest rates - KAJR
    ** KAJR also approved the acquisition of 51% stake in South
Asian Ceramic Tiles for 285 mln rupees
    ** Stock posts biggest intraday rise in nearly two weeks
    ** More than 586,000 shares change hands by 0910 GMT vs
30-day avg of 171,789 shares
    ** Stock down 22.5% YTD up to last close

($1 = 79.9625 Indian rupees)

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