Buy KEI Industries, target price Rs 1530: IIFL

IIFL has buy call on KEI Industries with a target price of Rs 1530. The current market price of KEI Industries Ltd. is Rs 1471.55. KEI Industries Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 13263.52 Crore) operating in Cables sector.

KEI Industries Ltd. key Products/Revenue Segments include Cables, Income from EPC,Contracts,& Others, Stainless Steel Bars & Wires, Export Incentives for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 1568.94 Crore, down -12.81 % from last quarter Total Income of Rs 1799.54 Crore and up 53.77 % from last year same quarter Total Income of Rs 1020.34 Crore. Company reported net profit after tax of Rs 103.76 Crore in latest quarter.

Investment Rationale
The stock has given a flag pattern breakout.

Promoter/FII Holdings
Promoters held 38.02 per cent stake in the company as of 30-Jun-2022, while FIIs owned 26.49 per cent, DIIs 19.46 per cent.