Asian Granito Tiles takes a high jump

Asian Granito Tiles , a small capitalisation stock , is trading firm on bourses and has managed to climb 16 percent on closing basis on Thursday. The broader markets traded firm with BSE Sensex gaining 193 points and the BSE Small cap index is up by almost 102 points. 

Established in 2000 Asian Granito India Tiles (AGL)  is one of the top four Indian ceramics company with its headquarters in Gujarat. Its products include ceramic wall, ceramic floor and porcelain floor tiles, polished vitrified tiles, polished gazed vitrified tiles and Marble & quartz. The company has a distribution network spanning across the length and breadth of India and has over 91 showrooms. The company exports to more than 50 countries globally.

AGL has been outperforming markets with posting almost 18 percent returns in 1 year. The stock is trading above its 50 day SDMA and 200 day SDMA suggesting bullishness in the stock.The stock is trading at a P/E multiple of 25.16 . It is trading at a discount to its peer company Cera Sanitary which trades at a P/E multiple of 31.95. HSIL (Hindustan Sanitaryware & Industries Limited ) another peer company is trading at P/E multiples of 18. 

The ceramic industry in India has been growing at a steady rate of 15 per cent per annum and the industry size is estimated to be more than Rs. 20,000 crores.