New Delhi, Jan. 15 -- In a tiles sector grappling with weak demand, Somany Ceramics has clearly fallen behind its peers. Its shares have slid 27% over the past 12 months up to 12 January, far steeper than the 2% decline in Kajaria Ceramics and the 11% fall in Orient Bell over the same period.

Yet the market's verdict is at odds with broker opinion. Of the 21 brokerage firms tracking Somany Ceramics, 19 recommend 'buy', 'add' or 'accumulate', while only two suggest a 'hold', according to Bloomberg data.

The divergence reflects a stock caught between near-term execution challenges and a broker consensus betting on a multi-year turnaround. Analysts argue that Somany's underperformance stems less from structural weakness and more from plant...