Shares of Polycab India, KEI Industries and RR Kabel, witnessed up to a 4% rise in share prices on Monday.
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Shares of select wires and cable companies including Polycab India, Havells India, RR Kabel and KEI Industries tumbled as much as 9 per cent during Thursday's trade.
KEI Industries shares surged 11% to Rs 4574.65 today against the previous close of Rs 4127.20 on BSE. Market cap of the firm rose to Rs 43,505 crore.
Multibagger stock: The stock, which closed at Rs 1449.45 on December 29, 2022 was trading at Rs 4,368 in the current session.
KEI Industries is directionally set to expand in compatible consumer electrical segment by FY27, the brokerage said while suggesting a target of Rs 6,150 on the stock.
The strike stems from demands for higher wages and other issues, which KEI Industries management describes as "completely unwarranted." The company is actively negotiating with labor contractors and workers to resolve the situation.
Net sales for the quarter rose 18.75 per cent YoY to Rs 2,319.28 crore compared with Rs 1,952.93 crore in the year-ago quarter.
PMSY: Elara said its top picks to benefit from PMSY are Tata Power (accumulate, target price Rs 288), REC (Buy, price target Rs 582), IREDA (Not Rated), PFC (Buy, stock price target Rs 326), KEI Industries (Accumulate, share price target Rs 2,700).
For today, share market analysts at different brokerages have assigned 'Buy' calls on The Ramco Cements, KEI Industries, IndiGo and KNR Constructions. Check share price targets, investment rationale, technical analysis and more crucial details.
Multibagger stock: In the current session, the shares of wire maker reached an intraday high of Rs 2592, rising 1.85% against the previous close of Rs 2544.85 on BSE.