InCred upgrades KEI Industries to Add, sets Rs 5,000 target
InCred Equities raised its rating on KEI Industries from Hold to Add, citing reasonable valuation. The company's September quarter profit rose nearly 29% year on year.
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what happened
According to Moody's, shares of cable and electricals maker KEI Industries fell 4.25% on Friday, October 23, closing at Rs 3,715.10 on BSE. The stock is down 17.68% so far in 2026 and 9% over one year, but has gained about 318% over five years.
Brokerage InCred Equities upgraded its rating from Hold to Add and set a target price of Rs 5,000. It cited reasonable valuation, while lowering its target multiple to 33x from 36x due to intensifying competition and upcoming industry capacity additions. For the September quarter of fiscal 2026-27, net profit rose 28.94% annually, revenue grew 39% and EBITDA climbed 40%. Management raised its guidance for growth and EBITDA margin.
why it matters
Strong profit and revenue growth points to durable business momentum, but new industry capacity and rising competition could pressure margins. Investors in the sector will watch whether the company keeps its valuation premium.
market impact
Indian cable makers: rising competition and new capacity could pressure margins
tags
instruments
sources
- Cables and wires stock turned multibagger with 318% return in 5 years; InCred sees 29% upside - Do you own? Target price — Moody's, 24 October 2026 at 15:52 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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