Cera Sanitaryware gains as board plans to consider entering into JV

Cera Sanitaryware rose 0.75% to Rs 2,169.20 at 12:35 IST on BSE as a meeting of the board of directors of the company will be held on 11 June 2015, to consider entering into a Joint Venture for sanitaryware and/or tiles manufacturing.

The announcement was made after market hours yesterday, 4 June 2015.

Meanwhile, the BSE Sensex was up 120.88 points, or 0.45%, to 26,934.30.

On BSE, so far 330 shares were traded in the counter, compared with an average volume of 2,238 shares in the past one quarter.

The stock hit a high of Rs 2,187.50 and a low of Rs 2,150 so far during the day. The stock hit a record high of Rs 2,952.05 on 15 April 2015. The stock hit a 52-week low of Rs 1,181.50 on 10 July 2014.

The stock had outperformed the market over the past one month till 4 June 2015, dropping 1.67% compared with 2.46% decline in the Sensex. The scrip had however underperformed the market in past one quarter, slipping 20.55% as against Sensex's 8.74% fall.

The mid-cap company has an equity capital of Rs 6.50 crore. Face value per share is Rs 5.

Cera Sanitaryware's net profit rose 14.4% to Rs 22.12 crore on 14.8% growth in total income to Rs 252.66 crore in Q4 March 2015 over Q4 March 2014.

Cera's extensive product portfolio includes high end showers, steam cubicles, and whirlpools, besides sanitaryware and faucets, has made Cera the primary choice of customers looking for stylish products in a contemporary lifestyle.

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