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Last Updated : Sep 17, 2019 11:14 AM IST | Source: Moneycontrol.com

Kajaria Ceramics rises 2% as Jefferies maintains buy; cuts target to Rs 685

Jefferies estimates sales/ PAT at 12%/21% CAGR over FY19-22, meanwhile trimmed FY20/21/22 EPS by 7%/5%/3%.

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Shares of Kajaria Ceramics rose more than 2 percent intraday on September 17 after research house Jefferies maintained buy call on the stock but cut target to Rs 685 from Rs 720 per share.

According to Jefferies, the medium-term prospects remain intact and it expect revenue and margin traction to revive from H2 FY20.

It estimates sales/ PAT at 12 percent/21 percent CAGR over FY19-22, meanwhile trimmed FY20/21/22 EPS by 7 percent/5 percent/3 percent.

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Over FY19-22, we pencil sales/EPS CAGR at 12 percent/21 percent, it added.

At 1059 hrs, Kajaria Ceramics was quoting at Rs 531.50, up Rs 6.05, or 1.15 percent on the BSE.

The share touched its 52-week high of Rs 648.85 and its 52-week low of Rs 316.20 on May 31, 2019 and October 23, 2018, respectively.

Currently, it is trading 18.09 percent below its 52-week high and 68.09 percent above its 52-week low.

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First Published on Sep 17, 2019 11:14 am
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