KEI Industries (517569) CMP Rs. 82.95/-
Bullish Breakout today from long consolidation @ Rs. 70-75/-
Bullish Breakout today from long consolidation @ Rs. 70-75/-
The company is into the manufacture of electrical cables and has been one of the largest suppliers of cables to Deptt. of Telecommunication (DoT), Government of India. It has established its position in the core sector projects in India and plant locations in New Delhi, Alwara and Rakholi. Its product range includes control cables, LT power cables, instrumentation cables, telecom cables and house wires cables. Its customer base consists of BHEL, Siemens, ABB, Alstom, L&T, BPCL, ONGC, GAIL, IOCL, Tata Chemicals, ACC, Gujarat Ambuja, Tata Steel and SAIL etc. Company is converting the JFTC plant into a facility for production of power,control and instrumentation cables. The company has also decided to expand its product range to high-tension power cables and it has lot of projects in hand.
Company has very strong fundamentals. It's yearly and quarterly profit contineously increasing.
This year 55% growth v/s last year net proft. EPS is around Rs. 7.67/- after stock split. Technically also looks very great for investment Target Rs. 125-155/- in 6 to 8 months time frame. Buy at every decline for smart gain.
