Morbis temporary shutdown turns fruitful for other ceramic stocks as five turn multibaggers; Pokarna emerges as top gainer!

Morbis temporary shutdown turns fruitful for other ceramic stocks as five turn multibaggers; Pokarna emerges as top gainer!

Karan Dsij
/ Categories: Trending, Mindshare

Morbi’s yearly turnover is approximately Rs 50,000 crore while its yearly export is about Rs 15,000 crore. The only biggest competitor of Morbi in the world is China

Morbi, the biggest cluster of the ceramic industry in India, will cut production by taking a month-long holiday from August in order to balance the demand-supply ratio. Its exports were impacted due to the war while in the domestic market, its demand has gone down because of a slowdown in the construction of affordable houses. The decision was taken in a meeting of the ceramic association, where 95 per cent of the units agreed on a month’s holiday.   

Morbi’s yearly turnover is approximately Rs 50,000 crore while its yearly export is about Rs 15,000 crore. The only biggest competitor of Morbi in the world is China.   

So, just before taking the month-long holiday in Morbi, the stocks of ceramics, marbles, and granite were buzzing on the bourses. Kajaria Ceramics and Cera Sanitaryware jumped over 4 per cent each on Friday. However, it would be interesting to check how companies from this group have fared on the bourses since December 31, 2019.   

So, here is the performance from December 31, 2019, close to date: 

Names 

Gains (per cent)  

POKARNA  

523.46  

ORIENTBELL  

394.79  

REGENCERAM_T  

303.33  

SOMANYCERA  

201.09  

KAJARIACER  

131.02  

CERA  

81.11  

MADHAV  

50.98  

MURUDCERA  

47.17  

ORIENTALTL  

29.35  

AROGRANITE  

22.67  

NITCO  

-21.2  

ASIANTILES  

-77.04  

   0

From the above table, it is clear that the majority of the stock has performed very well in the said period. Only two stocks delivered negative returns with maximum loss registered by Asian Granito India. On the other hand, Pokarna turned out to be the top gainer, followed by Orient Bell. Moreover, five stocks turn multibaggers. 

Interestingly, if we look at the CY2022 performance of Pokarna and Orient Bell, the stock of Orient Bell jumped nearly 92 per cent in CY2022 whereas Pokarna unperformed Orient Bell by a wide margin as it delivered negative returns!   

Previous Article Do you own this Low PE, High ROE stock with a positive financial trend that made a fresh all-time high on July 29?
Next Article Top three stocks that saw heavy demand from buyers in the pre-opening session today
Rate this article:
3.9

DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR