Buy KEI Industries, target price Rs 570: IIFL

IIFL has buy call on KEI Industries with a target price of Rs 570. The current market price of KEI Industries Ltd. is Rs 542.6.

KEI Industries Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 4882.30 Crore) operating in Cables sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 1158.28 Crore, up 11.31 % from last quarter Total Income of Rs 1040.56 Crore and down -12.19 % from last year same quarter Total Income of Rs 1319.01 Crore. Company reported net profit after tax of Rs 79.67 Crore in latest quarter.


Investment Rationale
Stock has given a channel pattern breakout on the daily chart.

Promoter/FII Holdings
Promoters held 40.50 per cent stake in the company as of March 31, 2020, while FIIs held 15.30 per cent, DIIs 24.7 per cent and public and others 19.49 per cent.