India's KEI Industries down after labour strike impacts production

KEI Industries

20/06/2024 06:53

** Shares of KEI Industries  KEIN.NS  down as much as 3% to
4,301.05 rupees 
    ** Wires and cables maker on Wednesday said operations at
plants in Rakholi and Chinchpada were partially affected due to
a production stoppage caused by a labour strike
    ** Estimated daily production loss due to the strike is
about 80 mln rupees (about $958,113) - KEIN  
    ** Stock on track for a fourth straight session of losses,
if current trends hold
    ** Avg rating of 15 analysts close to equivalent of "buy;"
median PT is 4,200 rupees - LSEG data 
    ** Including session's move, stock is up 33.7% YTD 

($1 = 83.4975 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))