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KEI Industries, Polycab shares surge up to 4% as UBS sees upside potential of up to 41%.


Date: 20-08-2024
Subject: KEI Industries, Polycab shares surge up to 4% as UBS sees upside potential of up to 41%
Shares of wire and cable makers KEI Industries rose 4% to its day’s high of Rs 4,550 while those of Polycab rose 3.7% to Rs 6,881 on BSE after the global brokerage firm UBS initiated coverage on the stocks with a buy rating and a target price of Rs 6,150 and Rs 8,550 respectively.

Stating that both companies are best plays on electrification, UBS stated that the favourable supply-demand dynamics are likely to benefit the industry leaders. The current $8 billion segment is estimated to be worth $20 billion in FY30 while the market share of the top five companies is expected to rise.

Source Name : Economic Times
 

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