India's KEI Industries gains as Morgan Stanley starts with 'overweight'

KEI Industries

21/02/2025 05:07

** India's KEI Industries  KEIN.NS  climb 3% to 3,840 rupees,
set for third straight session of gains
    ** Brokerage Morgan Stanley starts coverage on cables and
wires maker with "Overweight" rating and PT of 4,391 rupees
    ** KEIN to benefit from its well-diversified channel mix in
cables business revenue vs peers Polycab  POLC.NS  and R R Kabel
 RRKA.NS , with a balanced presence in retail, institutional,
and exports, brokerage says
    ** Adds, KEIN to also benefit from rising share in exports,
from 11% so far in FY25 to 15-17% in next 2-3 years
    ** Favourable government policies like boosting local
manufacturing and minimising imports will benefit KEIN - Morgan
Stanley
    ** Analysts' average rating on KEIN, POLC at "Buy"- LSEG
data
    ** YTD, KEIN has fallen 13.4%, while POLC is down 21%
     

(Reporting by Kashish Tandon in Bengaluru)
((Kashish.tandon@thomsonreuters.com))