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>Kajaria Ceramics: We maintain our BUY rating on Kajaria Ceramics (KJC) with an unchanged target price of INR 1,360/share (21x its Sep'23E consolidated EBITDA). We continue to like KJC for its superior margin in the tiles segment (function of its robust distribution and cost controls) and its fast expansion in the bathware and ply businesses. In Q2FY22, KJC's consolidated net sales rose 37/26/30% YoY to INR 9.74/1.81/1.16bn respectively. This is driven by strong growth across tiles (revenue up 37%) and bathware/ply segments (+48%).</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>

Kajaria Ceramics: We maintain our BUY rating on Kajaria Ceramics (KJC) with an unchanged target price of INR 1,360/share (21x its Sep'23E consolidated EBITDA). We continue to like KJC for its superior margin in the tiles segment (function of its robust distribution and cost controls) and its fast expansion in the bathware and ply businesses. In Q2FY22, KJC's consolidated net sales rose 37/26/30% YoY to INR 9.74/1.81/1.16bn respectively. This is driven by strong growth across tiles (revenue up 37%) and bathware/ply segments (+48%).
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.

HSIE Results Daily: Reliance Industries, ICICI Bank, Kajaria Ceramics