UBS advised investors to buy the stock of this wire...
The stock of cable and wire company KEI industries can give bumper returns to investors in the coming days. Foreign brokerage house UBS has issued a research note regarding the stock of KEI industries, in which the brokerage house has said that the stock of KEI industries can give a return of 40 percent in the coming one year. According to UBS, the stock can go up to Rs 6150, which closed at Rs 4674 on Wednesday, august 21, 2024.
UBS has issued a note for the first time regarding the stock of KEI industries, in which the brokerage house has advised investors to buy the stock. According to the note, the stock can go up to the level of Rs 6150 in the next 12 months, which is 32 percent more than the current level. UPS released its coverage report on the stock on august 19. On that day, the stock was at Rs 4365.85, which means that the stock is expected to rise by more than 40 per cent from this level. After the UPS report came out, the stock has gained 7 per cent.
KEI industries is a multibagger stock that has given double returns to investors in six months and has gained 63 per cent in one month. On january 1, 2021, the stock was at Rs 484. And from this level, the stock has gained 865 per cent. UBS has said in its report that KEI industries is strongly present in the cable and wire segment. According to the brokerage house, there are many triggers for the company in the coming days, including long-term growth in the cable and wire segment, possibility of market share growth in the branded housing wire and cables segment, increase in exports as well as the possibility of entering electrical segments like switches and switchgear.
UBS has said in its report that the unorganized sector has a very high share in the wire segment. This share was close to 30 percent in the financial year 2023-24. According to the brokerage house, it is expected to come down to 15 percent in the financial year 2027-28. KEI industries will benefit from awareness about the quality and safety of branded wire and investing more in strengthening the consumer brand and the company will also benefit from the organization of the wire market.
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