Domestic equity markets closed Monday's session on a strong note, with benchmark indices Sensex gaining 0.70% and Nifty rising 1.60% amid encouraging quarterly earnings and sustained buying in IT heavyweights. According to reports from Business Standard, sectoral indices on the NSE settled higher, with Nifty Media being the only sectoral loser in closing trade. The IT pack emerged as the top performer with an over 3% rise, while broader markets also ended higher as Nifty Midcap 100 was up 1.21% and Nifty Smallcap 100 gained 1.29%. Recent market data shows Kajaria Ceramics trading at ₹1,208 with a market cap of ₹19,055.95 crore and PE ratio of 36.07, reflecting strong investor interest in the ceramics sector.
Shrikant Chouhan of Kotak Securities recommends Kajaria Ceramics as a buy with a target price of ₹1,474 and resistance levels at ₹1,250-1,280. As reported by Business Standard, the company reported better-than-expected performance in Q1FY27, with management sharing that April 2026 was weak but demand has improved post that. The company has integrated sales and marketing divisions under a single roof in FY26, resulting in cost savings, and expects high single-digit volume growth and 17% revenue growth for FY27. Ebitda margin improved meaningfully to 17.9% in FY26 from 13.5% in FY25, with expectations of 18-19% margin range in FY27E.
Vedanta Aluminium Metal receives a buy recommendation with a target price of ₹585 and resistance at ₹475-485. According to Business Standard, Vedanta Aluminium Metal is India's largest and world's third-largest aluminium producer with 2.9 mtpa capacity and 62% domestic market share. The company's cost-reduction journey is set to accelerate through backward integration, with commissioning of 9 mtpa bauxite mine and four key coal mines (35 mtpa) expected to reduce dependence on external sourcing and lower production costs by $150/ton. This should move VAML into the first decile of the global aluminium cost curve.
Systematix Institutional Equities has initiated coverage on Vedanta Aluminium with a 'Buy' rating and target price of ₹598, implying a potential upside of around 28% from the current market price of ₹468, excluding potential dividends. As reported by The Economic Times, Systematix believes the target multiple balances Vedanta Aluminium's dominant domestic position, volume growth visibility, improving raw material integration, strong free cash flow outlook and potential transition to a net-cash balance sheet against commodity price sensitivity and execution risks. The brokerage expects earnings growth to be driven by higher volumes, deeper backward integration and supportive aluminium demand, with the company delivering a 39% surge in Profit After Tax and 29% jump in EBITDA over FY26-FY28E.
