Ceramic tiles maker rally; Orient Bell, Asian Granito hit new high
Orient Bell, Murudeshwar Ceramics, Asian Granito India, Nitco, Kajaria Ceramics and Somany Ceramics were up in the range of 4% to 14% on BSE.
 "Kajaria Ceramics")
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Kajaria Ceramics
Shares of ceramic tiles maker were in focus in an otherwise range-bound market. Orient Bell, Murudeshwar Ceramics, Asian Granito India, Nitco, Kajaria Ceramics and Somany Ceramics were up in the range of 4% to 14% on BSE. By comparison, the S&P BSE Sensex was up 0.03% at 32,431 at 02:37 PM.
Orient Bell (formerly Orient Ceramics and Industries) has rallied 20% to Rs 375, also its record high on BSE in intra-day trade.
In the past six trading sessions, the stock rallied 38% from Rs 272 on September 11, after the company reported net profit of Rs 24 crore in June quarter against Rs 1 crore in a year ago quarter. The net profit includes Rs 22 crore on sale of investment in Orient Bell Holding Trust during the quarter.
The company said the proceeds of such share sale will flow directly to the Company and will fuel its on-going long term strategic growth initiatives. The funds would be used for enhancing manufacturing capacity, increasing network presence and brand building.
Kajaria Ceramics was up 5% to Rs 742 on BSE. Asian Granito India too up 5% to Rs 495, extending its past two days 3% gain, after the company launches new product range of GVT in Grestek with brand name MARBLEX.
According to analyst at Antique Stock Broking, there are multiple growth drivers in place for the organized tiles industry in the near-to-midterm such as real estate reforms, government push for low-cost housing, Goods & Service Tax (GST), etc.
“Kajaria Ceramic’s pole position in this space, its strong brand equity and robust distribution network would allow it to maintain its number one position in the near future and grow faster than the organized industry”, the brokerage firm said in Q1FY18 result review.
Orient Bell (formerly Orient Ceramics and Industries) has rallied 20% to Rs 375, also its record high on BSE in intra-day trade.
In the past six trading sessions, the stock rallied 38% from Rs 272 on September 11, after the company reported net profit of Rs 24 crore in June quarter against Rs 1 crore in a year ago quarter. The net profit includes Rs 22 crore on sale of investment in Orient Bell Holding Trust during the quarter.
The company said the proceeds of such share sale will flow directly to the Company and will fuel its on-going long term strategic growth initiatives. The funds would be used for enhancing manufacturing capacity, increasing network presence and brand building.
Kajaria Ceramics was up 5% to Rs 742 on BSE. Asian Granito India too up 5% to Rs 495, extending its past two days 3% gain, after the company launches new product range of GVT in Grestek with brand name MARBLEX.
According to analyst at Antique Stock Broking, there are multiple growth drivers in place for the organized tiles industry in the near-to-midterm such as real estate reforms, government push for low-cost housing, Goods & Service Tax (GST), etc.
“Kajaria Ceramic’s pole position in this space, its strong brand equity and robust distribution network would allow it to maintain its number one position in the near future and grow faster than the organized industry”, the brokerage firm said in Q1FY18 result review.
| COMPANY | LATEST | PREV CLOSE | GAIN(%) |
| ORIENT BELL | 357.00 | 312.75 | 14.15 |
| ASIAN GRANITO | 495.00 | 470.25 | 5.26 |
| MURUDESH CERAMIC | 49.85 | 47.50 | 4.95 |
| SOMANY CERAMICS | 847.25 | 810.25 | 4.57 |
| KAJARIA CERAMICS | 740.30 | 709.40 | 4.36 |
| NITCO | 99.15 | 95.70 | 3.61 |