India's KEI Industries snaps 4-day losing run as labour strike ends

KEI Industries

21/06/2024 07:19

** Shares of KEI Industries Ltd  KEIN.NS  snap 4-day losing
run to rise just over 3%
    ** Wires and cables maker says labour strike called off at
two plants on Thurs; strike was announced on Weds
    ** Says lost production of about 100 mln rupees due to
strike vs estimate of 80 mln rupees
    ** Stock had slid 8.4% in 4-day losing streak
    ** Still, stock currently at ~4,560 rupees, above analysts'
median PT of 4,200 rupees, per LSEG data
    ** KEIN still above 100/200/300 day moving avgs and has
jumped ~40% YTD

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))