KEI Industries Stock Jumps Over 5% As Morgan Stanley Begins Coverage With Overweight Rating

KEI Industries Ltd.'s share price jumped over 5% in Friday's session as Morgan Stanley initiated coverage on the company with an Overweight rating and a target price of Rs 4,391 apiece. The current target price implied a 17.64% upside from Thursday's closing price.

Morgan Stanley sees multiple growth drivers for the KEI Industries. Exports are also likely to aid earning progressions, given today's multipolar manufacturing dynamics, the brokerage said. Morgan Stanley sees 23% earning CAGR over the financial year 2025 and 2028.

A rise in capital expenditure will also help KEI Industries to meet domestic and exports demand, the brokerage said.

KEI Industries Ltd. share price jumped 5.36% to Rs 3,932.35 apiece. It was trading 4.12% higher at Rs 3,886.25 apiece as of 10:03 a.m., as compared to 0.41% decline in the NSE Nifty 50 index.

The stock rose 21.08% in 12 months. Total traded volume so far in the day stood at 4.4 times its 30-day average. The relative strength index was at 53.36.

Out of 18 analysts tracking the company, 15 maintain a 'buy' rating, three recommend a 'hold,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 23.8%.