Reliance Securities has reiterated 'Buy' on HSIL with a target price of Rs 483 in its report.

Commenting on investment rationale, the stock broker said, ''HSIL is the largest Indian sanitaryware manufacturer. Backed by India's need for sanitation facility and changing consumer preference towards premium and lifestyle products, we are confident that HSIL will be a key beneficiary due to its leadership position in sanitaryware business and continued innovation in its segment.

In addition, with the capex cycle in the glass industry coming to an end, HSIL will be in a position to improve realizations and in turn margins. We expect revenue and PAT to register CAGR of 14.3% and 50.7% over FY15-17E. We reiterate our Buy recommendation on the stock with a target price of Rs 483.''

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