Sharekhan has given Buy recommendation for Kajaria Ceramics with a target price of Rs. 1402 in its research report issued on Sep 06, 2021

Sharekhan’s research report on Kajaria Ceramics

More than 180 companies in the Morbi ceramic cluster have shut down production since August 2021, which would create a favourable demand and pricing environment for Kajaria in Gujarat. Natural gas prices stay high in Morbi, while being stable outside Gujarat for Kajaria. Demand is upbeat since July 2021. Healthy demand and brownfield capacity expansion would drive earnings growth in the next three years.


We retain a Buy on Kajaria Ceramics with a revised PT of Rs. 1402, as we believe the company is entering into a high growth phase led by structural demand drivers.

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