Why Exxaro Tiles share price is skyrocketing today — explained
Stock market today: Exxaro Tiles share price has been in uptrend after ushering in the new financial year 2023-24. In FY24, Exxaro Tiles shares have risen from around ₹100 to ₹149.45 apiece levels, delivering to the tune of near 49.50 per cent return to its positional shareholders in near five months time. However, it seems that there is still some steam left in this small-cap stock.
Exxaro Tiles share price today opened upside and went on to hit intraday high of ₹149.45 apiece on NSE, missing 52-week high by mere ₹0.55 apiece. According to stock market experts, Exxaro Tiles shares are available at attractive valuations in comparison to its peers like Kajaria Ceramics, Cera Sanitaryware, Somany Ceramics, etc. As real estate theme is expected to work in upcoming quarters, market has gone bullish on this small-sized tiles maker stock.
They said that stock may continue to trade upside and can go up to ₹170 apiece levels in near term. On why Exxaro Tiles share price is in uptrend, Saurabh Jain, Vice President — Research at SMC Global Securities said, “Amid strong buzz in regard to Indian economy, real estate theme is expected to work in near term. Hence, market is looking at real estate and its allied industry shares.
As Exxaro Tiles shares are available at attractive valuations in comparison to its peers like Kajaria Ceramics, Cera Sanitaryware, Somany Ceramics, etc., Dalal Street bulls have gone bullish on the small-cap tile maker stock." SMC Global Securities expert went on to add that big companies have done well during April to June 2023 quarter and hence market is expecting small companies like Exxaro Tiles to do well now. That's why bulls have gone after the Exxaro Tiles shares. On Exxaro Tiles share price outlook,
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