Today, on March 20th, 2025, KEI Share Price plummeted by 10% since the opening bell. This crash and heavy selling pressure on KEI’s shareholders followed Adani’s announcement to begin their cable business.
Yesterday, on March 19th, the Adani company reported that Kutch Copper Limited, a wholly owned subsidiary of Adani company, completed incorporating a joint venture company named Praneetha Ecocables Limited (PEL) with Praneetha Ventures Private Limited. KCL would hold 50% of PEL’s equity share capital.
Adani is the second company that marked its entry into the cables business this year. Birla was the first. However, experts believe this would not adversely impact the companies’ FY 25-28 revenue. Analysts say that apart from new ventures in the cables business, the expanding prices of raw materials like copper and aluminium amid the US-imposed tariffs could impact the share prices of companies like KEI, Havells India, and more.
KEI Share Price in Today’s Market
At 11:20 a.m., KEI traded their shares for Rs. 2,780.15, nearly 13% lower than the opening rate. And 16.5% lower than its previous close. According to the reports and estimates on Money Control, the current market capitalization shows 26,464 cores; the UC Limit is 3,447.40, and the LC Limit is 2,790.75.
KEI’s shares opened to the market at Rs. 3,155.25 and are currently down by 12% compared to the opening bell rates and by 16% compared to the previous session’s close of 3,283.25. The company recorded a day low of 2,790.75.
Company Financials
KEI (Krishna Electric Industries) is one of India’s leading cable and wires manufacturers. The company declared its quarter 3 financial report for FY 2024-25 on January 21st. The reported data recorded that the company saw a 19.8% increase in revenue with Rs.2,467.27 crore against Rs.2,059 crore in the third quarter of last year. Their net profit surged by 9.38%, at Rs.164.81 crore against Rs.150.67 crore in the same quarter of the previous year.
Recent News About KEI
- On January 3rd, 2025, KEI Industries declared an interim dividend of Rs. 4 per share. The ex-dividend date was January 27th, 2025.
KEI Share Price Target
As per analysts on Trendlyne, KEI Industries Ltd. has an average target of 4829.60. The consensus estimates an upside of 73.06% from the last price of 2790.75
Should You Buy, Sell, Or Hold?
Although technical indicators recommend selling, most analysts support buying the shares. On Money Control, 53% of analysts recommend buying, and 26% suggest holding. Before investing in KEI, consider its long-term performance and consult your analyst to make the perfect move.
