KEI Industries gains 8%, hits new high on hopes of margin improvement

The improved operating environment, combined with pent-up demand, should boost the market growth for wires and cables, analysts believe

Shares of KEI Industries hit a new high of Rs 834.85 after they rallied 8 per cent on the BSE in the intra-day trade on Wednesday on expectation of margins improvement going forward. Besides, hopes that improved operating environment, combined with pent-up demand, could boost the market growth for wires and cables industry also aided the sentiment.

In the past two weeks, the stock of the company, engaged in the manufacturing of cables and wires, has rallied 17 per cent after CARE Ratings upgraded the long term & short term bank facilities/ debt instruments ratings of the company with