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Canara Robeco Small Cap Fund has raised a stake in Cera Sanitaryware Ltd, a Vijay Kedia portfolio stock. The company’s shares were trading at ₹ 5331.00 apiece at 01:12 PM on Monday. 

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Cera Sanitaryware manufactures and sells a variety of building products. In addition, it has non-conventional wind & solar power for captive use in the state of Gujarat. 

Cumulatively, mutual funds have trimmed a stake in the Vijay Kedia-backed company from 10.59% to 9.73%. However, Canara Robeco Small Cap Fund has increased its stake from 1.33 per cent to 1.35 per cent during July to September 2022 quarter. 

According to the latest shareholding pattern of the company, Canara Robeco Small Cap Fund holds 1,75,431 shares or a 1.35% stake in it. Further, ace investor Vijay Kedia holds 1,32,507 shares or 1.02 per cent stake in the company. His holdings in the company are worth ₹ 71.0 Crores. 

Cera Sanitaryware’s share price rose 8.16% this year. It is a small-cap company with a market capitalization of ₹ 7,088 crores. It has an ideal return on equity of 16.02%. Its shares are trading at a price-to-equity ratio of 38.09, which is higher than the sector P/E of 32.92, indicating that the stock might be overvalued. 

ICICI Securities has upgraded its rating from ‘Add’ to ‘Buy’ and has given a target price of ₹ 6280 per share, indicating an upside of 17.80% from the current share price. 

Written by Simran Bafna 

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