KEI Industries shares gain for the eight consecutive day; stock surges 5%

KEI Industries gained ground for the eighth session, up 5 per cent at Rs 531 levels in otherwise weak market on Wednesday. This is also a high for the stock on the BSE.

Since May 17, 2019, the stock of cable manufacturing company has rallied 37 per cent, after the company reported a strong operational performance in the March quarter (Q4FY19). In comparison, the S&P BSE Sensex was up 4.4 per cent during the same period.

KEI Industries’ operating profit in Q4FY19 rose 36 per cent at Rs 138 crore against Rs 101 crore in the year-ago quarter.