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.

Industry estimates peg the Indian domestic tiles market at Rs.42,000 crore in FY24; Somany with approximately 5% market share, ranks second behind Kajaria, the largest player in the sector, said Keshav Lahoti, Equity Research Analyst at H...