Shares of Polycab, KEI, Havells India and R R Kabel slumped up to 15% after UltraTech announced its foray into wires & cables segment with an investment of Rs 1,800 crore over the next 2 years
The northward move in KEI Industries share price came after foreign brokerage firm Morgan Stanley initiated coverage with 'Overweight' rating, with a target price of Rs 4,391
While many consumer durables companies reported disappointing earnings, missing their profit estimates due to lower margins, the EMS players exceeded expectations with strong revenue and profit growth
Technical charts of Polycab India, Voltas, KEI Industries and Lodha show the formation of a bearish pattern, namely 'Death Cross' on the daily scale; hence these stocks may see further downside.
KEI Industries boasts a rich history of paying dividends. BSE data reflects that the company has paid interim dividends of Rs 2 in 2021, Rs 2.50 in 2022, Rs 3 in 2023, and Rs 3.50 in 2024
In its Q3 results, KEI Industries reported a 9 per cent increase in consolidated net profit year-on-year (Y-o-Y) at Rs 165 crore as compared to Rs 151 crore a year ago
Meanwhile, NSE F&O data shows that FIIs were net sellers in Nifty futures for the sixth straight trading session on Tuesday, with net sales of 70,318 contracts in this period.
Union Bank stock futures plunged nearly 8% on the back of 54% increase in OI. On the other hand, Dr. Lal Path Labs and Metropolis Health witnessed long build-up on Monday; shows derivatives data.
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Even as KEI Industries reported annual growth in its top- and bottomline in Q2, the wires and cable company's profit and operating margins contracted
With a 12-month view and a 'buy' call on KEI Industries, UBS has given a target of Rs 6,150 per share, which implies a 40.8 per cent upside from Monday's (August 19) closing
Most of the stocks are now seen testing the 20-DMA; trade along this key moving average is likely to dictate the near-term trend for electric wire-related stocks; suggest charts.
In FY25 profitability is likely to improve led by likely enhanced geographical diversification, an improvement in operational efficiencies and increased contribution from high-margin, believes Ind-Ra.
In the years to come, multiple factors will boost growth of Cables & Wires and open up an avenue of possibilities for the industry.
Shares of IDFC, MGL, Radico Khaitan, KEI Industries and Carborundum Universal may rise up to 26 per cent, indicate technical charts
As of 11:09 am; these stocks rallied up to 14 per cent on the BSE in intra-day trade today. In comparison, the S&P BSE Sensex was down 0.04 per cent.
House wires and stainless steel wires saw strong demand, which should continue in October-March period (H2FY22) as well, analysts
The improved operating environment, combined with pent-up demand, should boost the market growth for wires and cables, analysts believe
On the indicator front, the MACD is comfortably placed above its signal-line and the 14 period RSI is soaring northwards, affirming that Ambuja Cements' stock may surge in the coming future
Bajaj Finance stock earlier formed a "double top" formation and, since then, has been witnessing a continuous fall