Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>The shares of Somany Ceramics rallied as much as nearly 9% on May 21.</li><li>Reports suggest that demand of tiles has not been hit as hard as feared.</li><li>More importantly, the cash crunch and lack of production is squeezing the smaller, unorganised players from the market.</li></ul>The shares of Somany Ceramics rallied nearly 9% on May 21 after one of the India's largest retailers of floor tiles reportedly said that the COVID-19 disruption has has not been hit demand as hard as feared. More importantly, the cash crunch and lack of production is squeezing the smaller, unorganised players from the market. <div type="image" title="somany" msid="75861823" hostid="261" caption="&amp;lt;p&amp;gt;Somany Ceramics share price chart&amp;lt;/p&amp;gt;"></div> The return of the buyers "Demand has been better than anticipated (50% versus 10% expectation) since their showrooms opened back on 6th May," an Edelweiss report dated May 18 said. What's better, people who come to the shops are more likely to buy than ever before — conversion rate is up to 80% compared to 50% earlier. The report rated Somany Ceramics as 'Buy'. Edelweiss' findings were based on the inputs from Lakshmi Ceramics, India's largest retailer of tiles and sanitaryware based out of Tamil Nadu. "Tier-2 and tier-3 cities are better placed than metros with less number of cases and limited labour availability issues. Furthermore, demand from the retail segment (~70% of their sales) is likely to remain healthy as individual home buyers/owners are eager to complete the construction of their homes, whereas projects are likely to suffer from liquidity squeeze and labour shortages," according to the Managing Director Muthuraman. This could be a morale booster for builders too who have been hit by a sharp slump in demand for residential housing. However, it is also possible that people are opting to renovate homes instead of buying new ones given the rising uncertainty over future incomes. The unorganised manufacturers are getting pushed out of the market While there have been no changes in credit terms so far, branded players such as Kajaria Ceramics, Somany Ceramics, and Nitco are offering cash discounts to receive payments. Smaller, unorganised players who form the biggest chunk of the manufacturing in this sector do not have that luxury. "Dealers/distributors are finding these schemes attractive and they are making payments to branded players on priority at the expense of unorganised players," the report added. This will allow companies Somany and Kajaria to capture more customers from the unorganised sector, which makes for nearly half of the entire market, according to a CARE Ratings report last year. Even competition from China will be at bay for a while. "Bigger architects used to go for China/Italy for purchases of premium-end tiles, but that is now ruled out for year or so. So, even the top-end of demand is likely to be catered by domestic players," Muthuraman told analysts. All in all, a crisis may be turning into an opportunity for India's branded ceramic industry, which is the third largest in the world after China and Brazil. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/future-retail-promoter-kishore-biyani-net-worth-falls-sharply-as-debt-rises/articleshow/75861065.cms">Once India’s ‘retail king’, Future Retail promoter Kishore Biyani is straddling high debt, coronavirus and negative ratings⁠⁠— and nearly his entire stake is already pledged</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/bajaj-auto-share-price-quarterly-profit-margin-and-new-tax-rate/articleshow/75848949.cms?upcache=2">Bajaj Auto’s profit margin springs up⁠ and the Pulsar maker opts for new tax rate to widen it further⁠— the shares jump over 4%</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/within-minutes-indigos-shares-nearly-halve-their-losses-since-march-end-after-india-allows-local-flights-to-resume-from-may-25-spicejet-soars-too/articleshow/75859878.cms">Within minutes, IndiGo’s shares nearly halve their losses since March-end after India allows local flights to resume from May 25⁠— SpiceJet soars too</a>

India's largest retailer of tiles and sanitaryware says 50% of demand is back in just 15 days— shares of Somany Ceramics rose as much as 9%

<ul><li>Indian ceramic industry, which is presently the third largest producer in the world, is reportedly planning to double turnover by 2021. </li><li>In the recent times, the construction sector has grown by 7%-8%. </li><li>Within India’s ceramic market, 70% of the total output comes from Gujarat alone.</li></ul>Indian government’s spending on construction and real estate ahead of elections, including affordable housing is set to boost demand for ceramic products in the country. Indian ceramic industry, which is presently the <a href="https://www.businesswire.com/news/home/20190221005602/en/70.9-Billion-Ceramic-Tiles-Market-Type-Application" data-type="tilCustomLink">third largest</a> producer in the world, is reportedly planning to ramp up its yield to double by 2021. As the country makes room for new development projects, the increasing demand for faucets and tiles has lead to 7%-8% growth in construction sector. The demand for <a href="https://www.business-standard.com/search?type=news&amp;q=industrial+ceramic+products">industrial </a>ceramic products such as ceramic tiles, sanitary wares and pipes required in construction applications too are expected to increase. Given that the government has announced an investment of $376.5 billion in infrastructure by 2020, the ceramic industry “expects a huge growth in volume,” Tarun Marwah, Director, Messe Muenchen India, told IANS. He noted that the industry is divided equally into two — organised sector comprising large players and unorganised sector. India has also been stepping up its efforts to increase reach for the global ceramic market. According to the current data, 70% of the total output comes from Gujarat alone. The Morbi ceramic industry in Gujarat will receive an estimated investment of ₹15 billion in 2019, with plans to establish 50 new wall tiles manufacturing plants. However, in recent years despite the construction projects undertaken, the top ceramic product makers — <keyword id="6462340" type="COMPANY" weightage="20" keywordseo="kajaria-ceramics">Kajaria Ceramics</keyword>, <keyword id="593118" type="PERSON" weightage="20" keywordseo="Somany-Ceramics">Somany Ceramics</keyword>, <keyword id="141201" type="COMPANY" weightage="20" keywordseo="Cera-Sanitaryware">Cera Sanitaryware</keyword>, <keyword id="1548032" type="UNKNOWN" weightage="20" keywordseo="Asian-Granito">Asian Granito</keyword> — witnessed slow revenue growth. 
 
 
 
 
 
 
 
 
 <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[
<div class="flourish-embed" data-src="visualisation/237785"></div>
]]></cdata></div>



















 The numbers, however, do not reflect the boost that was expected from the Modi government's move to construct toilets around the country under the ‘Clean India’ initiative aimed at constructing <a href="https://economictimes.indiatimes.com/news/politics-and-nation/worlds-biggest-toilet-building-spree-is-under-way-in-india/articleshow/65206911.cms">111 million</a> toilets in next five years. According to Euromonitor International, the government’s other initiatives such as the national hygiene drive led to 81% jump in sales of concrete building materials. Premium brands like Jaguar and Nitco have also taken the creamy layer of customers on top of the pyramid. Things may now be turning around now. Real estate has got a new lease of life. With the improving demand, the housing sales in 2018 increased by 15% in the west and 20% in the southern cities in India with new launches up by 77%, <a href="https://economictimes.indiatimes.com/industry/services/property-/-cstruction/housing-sales-in-southern-cities-higher-than-north-and-west-india-in-2018-anarock/articleshow/67939424.cms">according to</a> homegrown property consultant Anarock. Moreover, with the Goods and Services Tax (GST) council <a href="https://www.moneycontrol.com/news/business/real-estate/explainer-gst-rate-cut-to-boost-sales-of-housing-units-reduce-unsold-inventory-3578701.html">slashing</a> tax rates further on under-construction properties — 5% on normal category and 1% for affordable housing — is also likely to benefit the homebuyers and construction sector. "Because of the global recession, production in the ceramic industry world wide is going down. From 2015 to 2018, there were too many ceramic products without any buyers. So we need to find buyers, find out ways to export our products which will take a long time," Ken Wong, General Manager at Unified Exhibition Service reportedly said. See also: <a href="https://www.businessinsider.in/from-affordable-housing-to-co-working-spaces-heres-how-2018-fared-for-indian-real-estate/articleshow/67317937.cms">From affordable housing to co-working spaces — here’s how 2018 fared for Indian real estate</a> <a href="https://www.businessinsider.in/interim-budget-2019-may-help-homebuyers-and-not-builders/articleshow/67559217.cms">Interim Budget 2019 may help homebuyers and not builders</a> <a href="https://www.businessinsider.in/gst-cut-on-real-estate-may-relieve-pain-temporarily/articleshow/68146057.cms">Indian real estate builders welcome GST relief but opinions are divided</a>

The world's third largest ceramic industry is banking on India's love for gaudy tiles

New Delhi, Dec 10 () Markets regulator Sebi on Tuesday exempted private family trusts related to promoters of Somany Ceramics from the obligation of making open offer following their proposed acquisition of shares in the Kolkata-based company.
 The directive comes after three trusts -- Sanrakshith Family Trust, Shakthi Family Trust and Srijan Family Trust -- sought exemption from applicability of Takeover Regulation following their proposed acquisitions of shares and voting rights in Somany Ceramics.
 Shreekant Somany, one of the promoter of Somany Ceramics, has set up two family trusts -- Sanrakshith Family Trust and Shakthi Family Trust, while another promoter Anjana Somany has set up Srijan Family Trust.
 Under the proposed transaction, Shreekant Somany will transfer 10.24 per cent stake to Sanrakshith Family Trust. 
 Besides, he will give 23.78 per cent shareholding to Shakthi Family Trust, while Anjana Somany will transfer 10.24 per cent shares to Srijan Family Trust.
 Pursuant to this, these trusts will hold 44.26 per cent stake in Somany Ceramics.
 As per the regulatory norms, the proposed acquisition will attract the obligation to make open offer under the Takeover Regulations.
 In an order, Sebi granted exemption to the family trusts from making open offer, saying that the proposed acquisitions are intended to streamline succession and promote welfare of the promoter family.
 Besides, the proposed acquisition will not affect the interest of public shareholders and there will be no change in control of the companies pursuant to the proposed acquisitions, Sebi noted.
 "The pre-acquisition and post-acquisition shareholding of the promoters in the target company will remain the same," the Securities and Exchange Board of India (Sebi) noted.
 Accordingly, Sebi granted exemption to the acquirer trusts from complying with the Takeover Regulations with respect to the proposed acquisitions in Somany Ceramics. SP
RVK

Sebi exempts family trusts linked to promoters of Somany Ceramics from open offer requirement

<ul><li>Over 400 of 550 wall tile plants running mainly on coal gasifiers have been closed post the National Green Tribunal (NGT) ban on ceramic units in Morbi, Gujarat. </li><li>Given that, the tile manufacturing units are now considering to switch to natural gas as an alternate. </li><li>Nearly 70% of total output in the <keyword id="1547959" type="PERSON" weightage="20" keywordseo="Ceramic-Industry">ceramic industry</keyword> in India comes from Gujarat alone. </li></ul>Soon after the National Green Tribunal (NGT) banned ceramic units running on coal gasifiers in Morbi, Gujarat, the tiles industry has witnessed a major hit. Largely impacted by the ban, the tile manufacturing units have <a href="https://realty.economictimes.indiatimes.com/news/allied-industries/ngts-order-banning-coal-gasifiers-in-morbi-to-adversely-impact-tile-industry-icra/68373711">shut down</a>, switching to natural gas as an alternate. The switch, however, may increase fuel expenses for the manufacturers considering the PNG prices. Hope floats that this would close the price gap between unorganised players in Morbi and branded tile makers like Kajaria Ceramics, Somany Ceramics, Cera Sanitaryware, and Asian Granito and help these companies gain market share. According to media reports, of the 800 ceramic units in total, over 400 wall tile plants running majorly on coal gasifiers have been closed so far owing to shortage of raw material that has been impacting the operation costs for these units. The Morbi ceramic industry had expected a huge growth. In fact, the industry is reportedly planning to establish 50 new wall tiles manufacturing plants. After the ban on March 6, the production has reportedly <a href="https://timesofindia.indiatimes.com/city/ahmedabad/after-ngt-crackdown-450-ceramic-units-prepare-to-switch-to-gas/articleshow/68365929.cms">dropped</a> by 60%-70%. "Among these units, those most affected will be the wall tile and soluble salt tile manufacturers as they were meeting nearly their entire thermal energy requirements through coal gasifiers," Suprio Banerjee, vice president and head, Mid-Corporate ratings of ICRA reportedly said. India being the third largest ceramic producer in the world has been eyeing the global market. Given the fact that nearly <a href="https://www.businessinsider.in/ceramic-industry-to-double-turnover-by-2021-thanks-to-real-estate-affordable-housing/articleshow/68217546.cms">70% of total output</a> in the ceramic industry comes from Gujarat alone, the new regulations may also affect the large ceramic players. The ceramic industry is equally bifurcated into two — organised players comprising large ceramic producers and unorganised players. While for the unorganised players, tighter tax compliance and stretched working capital requirements has put forth an urgent need to raise prices by nearly 15%–20% due to raw material shortage, the organised players are still projecting a positive graph, benefitted either by market share or margin, Edelweiss Securities said in a report. See also: <a href="https://www.businessinsider.in/ceramic-industry-to-double-turnover-by-2021-thanks-to-real-estate-affordable-housing/articleshow/68217546.cms">The world's third largest ceramic industry is banking on India's love for gaudy tiles</a>

Over 400 tile makers in one area in Gujarat have shut down after a ban on coal gasifiers

Both <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="100" keywordseo="Nifty" source="keywords">Nifty</keyword> began the day in greens. As of 9:45 am, Nifty was up by 0.23% trading at 23,591.45 points, while Sensex was trading at 77,544.36 points, up by 0.28% . All broad market indices, including Nifty smallcap, midcap, microcap and multi-cap were in greens during early trade during the day, except for <keyword id="158701" type="General" weightage="20" keywordseo="India-VIX" source="Orion">India VIX</keyword>, which was trading at 13.98, down by 0.53%. As for sectoral indices, except for Nifty <keyword id="34523" type="General" weightage="20" keywordseo="fmcg" source="Orion">FMCG</keyword> (down by 0.08%), IT (down by 0.09%), pharma (down by 0.02%) and realty (down by 0.79%), all other sectors were in green. Early during the day's trade, Ultratech Cement, <keyword id="20103302" type="General" weightage="20" keywordseo="divis-labs" source="keywords">Divis Labs</keyword>, HDFC Bank, Coal India and <keyword id="20129733" type="General" weightage="20" keywordseo="hindalco" source="keywords">Hindalco</keyword> emerged as gainers, while Asian Paints, HCL Tech, Kotak Bank, Grasim and Titan lost ground. As per Mr. Aditya Gaggar, director of Progressive Shares, "a sharp recovery from the lower levels helped the Index to settle 24th June trade higher at 23,538. GIFT Nifty indicates a positive opening of the Indian equities but awaiting a clear breakout on either side. Trend reversal can be expected in the FMCG space as the sector sharply reversed after testing its support level. Selective buying can be expected in the pharma segment. Positive traction was observed in the ceramic stocks and we believe the momentum will likely extend further, so keep an eye for <keyword id="22170624" type="General" weightage="20" keywordseo="kajaria" source="keywords">Kajaria</keyword> and Somany Ceramics". According to Shrikant Chouhan, Head Equity Research, Kotak Securities, "We believe the larger market texture is still non-directional; hence; level-based trading would be ideal for day traders. For day traders, 23,350/76,700 or 10-day simple moving average would be the key support levels. Above that, the market could rally to 23,600 or 23,700/77,500 or 77,800. On the other side, selling pressure is likely to increase below 23,350/76,800. Below that, the market can slip towards 23,200-23,000/76,400-75,800. For the day, buying is advisable if the index corrects to 23,430/23,400 levels. Keep a stop loss at 23,350". <cmsannotation type="cmsannotation" annotationid="Stocks in action" comment="subhead" text="Stocks in action">Stocks in action </cmsannotation> <keyword id="20410983" type="General" weightage="20" keywordseo="Tata-Communications-Limited" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Communications Limited" meta.hostid="261" meta.entityid="Tata Communications Limited">Tata Communications limited</keyword> has announced that its 38th Annual general meeting will be held on July 17th, 2024. During early trade, the stock was trading at Rs 1,854.95, up by 0.50%. Kalpataru Projects International Limited (KPIL) informed the NSE that it has acquired new orders worth Rs 2,333 crore via its joint ventures and international subsidiaries. The stock was trading at Rs 1,195.10, up by 1.85% during early trade. JSW Steel USA, which is a subsidiary of <keyword id="13944078" type="DOMAIN" weightage="20" keywordseo="JSW-Steel-Ltd-" source="BI" sourcekeytype="stcompany" meta.aliasname="JSW Steel Ltd." meta.entityname="JSW Steel Ltd." meta.entityid="INE019A01038" meta.seoname="jsw-steel-ltd">JSW Steel Ltd.</keyword> announced an investment of $110 million in steel plate mill modernization projects in its facility in Baytown, Texas. The stock was trading at Rs 936.40, up by 0.11%. Sun Pharmaceutical successfully completed the merger of Taro Pharmaceutical Industries with its subsidiary company. As part of this, the company acquired all outstanding ordinary shares of Taro other than those already held by Sun Pharma or its affiliates. The stock was trading at Rs 1,495.55, up by 0.07%

You Searched For "Somany Ceramics" and got 6 results

India's largest retailer of tiles and sanitaryware says 50% of demand is back in just 15 days— shares of Somany Ceramics rose as much as 9%

Sriram Iyer

The world's third largest ceramic industry is banking on India's love for gaudy tiles

BI India Bureau

Sebi exempts family trusts linked to promoters of Somany Ceramics from open offer requirement

PTI

Over 400 tile makers in one area in Gujarat have shut down after a ban on coal gasifiers

BI India Bureau

Market Morning: Sensex, Nifty open in green, JSW, Tata Comms. in action

Ira Alok Puranik

HCL Tech, InfoEdge, Biocon and their peers may be safe stocks to hide for the rest of 2020

Rounak Jain

Popular Keywords

Buying Guides