India's KEI Industries set to snap 6-session winning run as Q2 margins drop

KEI Industries

16/10/2024 05:26

** KEI Industries  KEIN.NS  drops 5.8% to 4,417.60 rupees;
set to snap 6-session winning run
    ** Wires and cables maker on track for worst day in about 3
months
    ** KEIN's Q2 profit rises, but EBITDA margins contract
    ** Motilal Oswal says margin contraction due to sharp fall
in rev from highly profitable extra-high voltage cables business
    ** Q2 EBITDA margin dips to 10.42% vs year-ago 10.88%
    ** Stock biggest pct loser on Nifty 500  .NIFTY500  index,
which is up 0.4%
    ** Stock rated "buy" on avg, same as smaller peer RR Kabel
 RRKA.NS  - LSEG
    ** YTD, KEIN trims gains to ~36% but outperforms NIFTY500's
22.2% rise

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))