India's Somany Ceramics falls on Q1 profit drop

Somany Ceramics

02/08/2024 07:31

** Shares of Somany Ceramics  SOCE.NS  fall as much as 5.9%;
last down 2.8% to 751.7 rupees
    ** Co's Q1 profit fell 15.7% YoY
    ** Rival Kajaria Ceramics  KAJR.NS  missed Q1 profit
estimates
    ** SOCE rated "strong buy" on avg, KAJR rated "buy" - LSEG
data
    ** SOCE up ~8% YTD, KAJR up ~13%

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))