Kajaria Ceramics sparkles on foreign fund buying

Kajaria Ceramics gained 3.37% to Rs 228.50 at 12:10 IST on BSE after a foreign fund bought 1.1% stake in the company in a bulk deal on NSE on Wednesday, 18 September 2013.

Meanwhile, the BSE Sensex was up 540.72 points or 2.71% at 20,502.88

On BSE, 9,616 shares were traded in the counter as against average daily volume of 32,830 shares in the past one quarter.

The stock hit a high of Rs 234.90 and a low of Rs 226.20 so far during the day. The stock had hit a record high of Rs 261.40 on 5 December 2012. The stock had hit a 52-week low of Rs 174 on 22 March 2013.

The stock had underperformed the market over the past one month till 18 September 2013, falling 0.81% compared with the Sensex's 7.33% rise. The scrip had also underperformed the market in past one quarter, falling 8.32% as against Sensex's 3.84% rise.

The small-cap company has equity capital of Rs 14.72 crore. Face value per share is Rs 2.

Foreign fund Swiss Finance Corporation (Mauritius) bought 8.08 lakh shares or 1.1% stake at Rs 219.99 per share in Kajaria Ceramics in a bulk deal on NSE on Wednesday, 18 September 2013.

Kajaria Ceramics' consolidated net profit rose 16% to Rs 25.80 crore on 22.9% growth in net sales to Rs 437.42 crore in Q1 June 2013 over Q1 June 2012.

Kajaria Ceramics is the largest manufacturer of ceramic/vitrified tiles in India.

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