Buy Kajaria Ceramics, :: Kotak Securities

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RECOMMENDATION: BUY
TARGET PRICE: RS.648 FY16E P/E: 20.1X
Focus of government on Swatch Bharat Abhiyan, development of smart
cities and industrial corridors as well as housing development is likely to
result in increased demand for ceramic industry. Kajaria ceramics is ideally
positioned to capture the increased demand with its expanded capacity as
well as its ongoing capex plan. Owing to adequate upside from the current
levels, we now upgrade the stock to BUY from ACCUMULATE earlier.

LINK
http://www.kotaksecurities.com/pdf/pdfs/FUNDKAJARIACER16122014094511.pdf