India's R R Kabel gets 'buy' rating as Citi starts coverage

R R Kabel

20/03/2024 10:39

** Wire maker R R Kabel's  RRKA.NS  shares end marginally
higher; Citi starts coverage with "buy" rating and PT of 1,728
rupees
    ** Stock rose as much as 2.3% earlier in the session
    ** RRKA's countrywide and export distribution systems well
placed for growth in revenue - brokerage
    ** Brokerage sees company as well positioned in strong
domestic real estate market on the back of brand, products and
existing market share
    ** Analysts covering R R Kabel's shares have "buy" or higher
rating - LSEG
    ** Analysts have "buy" rating for peers Polycab  POLC.NS 
and Havells  HVEL.NS 
    ** R R Kabel's shares down ~9% so far in March quarter, POLC
stock has lost ~14%, while HVEL down ~7%

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364))