Update on the Indian Equity Market:
\nOn Friday, NIFTY closed at 13,760 (-0.14%). Top gainers in NIFTY50 were Dr Reddy (+3.3%), Bajaj Auto (+2.5%), and Infy (+2.3%). The top losers were IndusInd BANK (-3.1%), HDFC Bank (-2.3%), and ONGC (-1.9%). The top sectoral gainers were IT (+1.6%), PHARMA (+1.3%), and FMCG (+0.3%) and the sectoral losers were PVT BANK (-0.7%), PSU BANK (-0.7%), and REALTY (-0.6%).<\/p>\n
Excerpts of an interview with Mr. Ashok kajaria, CMD \u2013 Kajaria Ceramics and Sandip Somany, VC and MD of HSIL with CNBC TV18 dated 18th December 2020:
\n\u2022\tThe home improvement sector has seen a huge demand amid the COVID-19 lockdown and the work from home, including in the rural areas. The demand from non-metros and smaller towns is robust
\n\u2022\tThe residential market is very strong especially from tier-2, tier-3, and tier-4 towns. The demand is very strong after the lockdown.
\n\u2022\tIn the earlier months we thought it is pent up demand, but looking at the last five months, the demand continues to be positive.
\n\u2022\tThe branded players are doing much better post lockdown and exports too have gone up.
\n\u2022\tAfter the lockdown, things are much better for branded players. They are doing very well in the domestic market. The exports have also gone up from the country in the last three months.
\n\u2022\tSeptember, October, and November, the exports have gone up by almost 40 percent than what it was last year.
\n\u2022\tMr Sandeep said that there has been significant growth in demand particularly in the kitchen space and they expect to see 15 percent growth by end of the year in that space.
\n\u2022\tThey see a very sharp increase in home improvement products. The kitchen space particularly has seen significant growth in demand because for the past 20-40 years nobody has spent so much time in their homes and people are enjoying cooking and rediscovering cooking.
\n\u2022\tSo, the kitchen space has become very exciting. They are the second-largest producer there in the country and they have seen a significant reemergence in the demand there. At the end of the year, we will be close to 15-20 percent positive.<\/p>\n
Consensus Estimate: (Source: market screener and investing.com websites)
\n\u2022\tThe closing price of KAJARIACER was \u20b9 700\/- as of 18th December 2020. It traded at 49x\/ 37x\/ 31x the consensus earnings estimate of \u20b9 14.4\/ 19.1\/ 22.7 for FY21E\/FY22E\/23E respectively.
\n\u2022\tThe closing price of HSIL was \u20b9 105\/- as of 18th December 2020. Consensus estimates for HSIL are not available.
\n\u2022\tThe consensus price target of KAJARIACER Ltd is \u20b9 601\/- which trades at 26x the earnings estimate for FY23E of \u20b9 22.7\/-
\nDisclaimer: “The views expressed are for information purposes only. The information provided herein should not be considered as investment advice or research recommendation. The users should rely on their own research and analysis and should consult their own investment advisors to determine the merit, risks, and suitability of the information provided.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Update on the Indian Equity Market: On Friday, NIFTY closed at 13,760 (-0.14%). Top gainers in NIFTY50 were Dr Reddy (+3.3%), Bajaj Auto (+2.5%), and Infy (+2.3%). The top losers were IndusInd BANK (-3.1%), HDFC Bank (-2.3%), and ONGC (-1.9%). The top sectoral gainers were IT (+1.6%), PHARMA (+1.3%), and FMCG (+0.3%) and the sectoral […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[633],"tags":[],"_links":{"self":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/1573"}],"collection":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/comments?post=1573"}],"version-history":[{"count":3,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/1573\/revisions"}],"predecessor-version":[{"id":1576,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/1573\/revisions\/1576"}],"wp:attachment":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/media?parent=1573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/categories?post=1573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/tags?post=1573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}