India's KEI Industries sinks; brokerage says co underperforming peers

KEI Industries

01/08/2023 07:24

** Shares of India's KEI Industries  KEIN.NS  fall as much
as 8.42% to 2,225.10 rupees; steepest intraday fall since Oct
25, 2021 
    ** Co posts lowest level since June 21, 2023 
    ** Brokerage Prabhudas Lilladher says co underperforming
against peers Havells India  HVEL.NS  and Polycab India
 POLC.NS 
    ** Co's domestic institutional extra high voltage cable
sales registered 50% degrowth in Q1 
    ** Co shares decline for sixth straight session 
    ** More than 956,223 shares change hands by 11:44 a.m IST,
3.2X 30-day avg 
    ** Mean recommendation of 15 analysts is "buy", median TP is
2,112 rupees - Refinitiv IBES data 
    ** Including session's losses, stock up ~53% so far this
year 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))