Exxaro Tiles shares traded in the green on Friday, December 30, the last trading day of the calendar year 2022, after the company announced that Unit 1 of its Padra plant in Gujarat had restarted operations. The Padra plant operates from 2022.

Unit 1 at the Padra Power Plant has been shut down for the past 3-4 weeks due to a planned, scheduled maintenance program and related equipment upgrade work.

The company said the plant resumed operations regularly following necessary equipment upgrades and maintenance.

Ravi Singh, vice president and head of research at Share India, said Exxaro Tiles’ steady growth in revenue and earnings per share last year is a positive sign for the business outlook. The company’s net income has grown by 11% over the past five years.

He said the company had seen solid earnings growth with a high reinvestment rate and a low return on equity.

In terms of technical settings, he said momentum and oscillators on the daily chart point to a near-term target of the 135 level.

Shares of Exxaro Tiles have had a positive return of about 30% over the past six months. However, it is down 15% over the past year.

Exxaro Tiles manufactures ceramic tiles. Through its two main product categories, double-charge vitrified tiles and glazed vitrified tiles, it offers vitrified floor tiles. The company has more than 2,000 contacts across the country, and its products are exported to over ten countries.