Buy Kajaria Ceramics; target of Rs 1185: ICICI Direct

ICICI Direct is bullish on Kajaria Ceramics has recommended buy rating on the stock with a target price of Rs 1185 in its research report dated August 04, 2021.

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ICICI Direct’s research report on Kajaria Ceramics

Kajaria Ceramics is the largest manufacturer of ceramic/vitrified tiles in India with current annual capacity of 70.4 million square metre (MSM). The company has announced a large capex of Rs 250 crore (seeing strong demand and higher utilisation) in FY22, which will increase its overall capacity by 18% and generate ~Rs 500 crore worth of additional revenue

Outlook

We maintain our BUY rating on the company We value Kajaria at Rs 1185/share.

For all recommendations report, click here

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