External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<p>It has doubled its Capex run-rate FY22 onwards to expand capacities, all through internal accruals. It expects its margin to rebound on full benefit of the price hikes taken in Q3 and if gas prices stabilise around current levels. We reiterate our BUY rating on Kajaria Ceramics (KJC), with an unchanged target price of INR1,450/sh (21x its Dec-23E consolidated EBITDA). KJC reported robust growth across tiles, bathware, and ply segments, riding on both healthy demand and market share gains, which drove its revenue by 27% YoY.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

It has doubled its Capex run-rate FY22 onwards to expand capacities, all through internal accruals. It expects its margin to rebound on full benefit of the price hikes taken in Q3 and if gas prices stabilise around current levels. We reiterate our BUY rating on Kajaria Ceramics (KJC), with an unchanged target price of INR1,450/sh (21x its Dec-23E consolidated EBITDA). KJC reported robust growth across tiles, bathware, and ply segments, riding on both healthy demand and market share gains, which drove its revenue by 27% YoY.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Kajaria Ceramics (Q3FY22 Result update): Market share gains continue. Maintain BUY