KEI Industries shares have fallen and Jefferies updates its outlook, cutting the stock’s target price after the company’s recent performance and broader market conditions. NDTV reports that KEI shares have already corrected about 21% from their peak and 16% since the firm’s Q1FY27 results, which beat expectations.
Economic Times says Jefferies reduces its target price by 11% to Rs 6,150 and keeps a Buy rating. The brokerage cites concerns that UltraTech Cement’s entry into wires and cables could create competitive pressure in retail segments. It expects some loss of market share but believes KEI can mitigate this through its focus on power transmission cables and through exports.
While NDTV focuses on the extent of the stock’s correction and whether it may already reflect some of the risk, Economic Times centers on the specific competitive threat from UltraTech and the potential offset strategies Jefferies highlights.
