Shares of KEI Industries Ltd fell above 5% on teh back of downgrade by brokerage firm Morgan Stanley. The brokerage downgraded its rating from Overweight to equalweight, but hiked its target price to Rs 5213 from Rs 4860.
KEI shares are currently trading 4.44% lower at Rs 4,833 80, as of 9:40 am.KEI's shares have fallen 8.45% year-to-date.
The downgrade follows a sharp rally in the stock, which has beaten the BSE Sensex by nearly 35% over the last six months. Analysts believe that a significant portion of the near‑term positives is already reflected in the current valuation, leading to a more guarded outlook even as the company's core fundamentals remain stable.
In its Q4FY26 results, KEI Industries posted a 19% year‑on‑year rise in revenue to Rs 3,476 crore, marginally above Street estimates. Growth was primarily supported by the wires and cables business, which expanded 18%, while stainless steel wires recorded a stronger 22% increase. In contrast, the EPC segment showed little traction and continued to underperform compared with the company's other business segments.
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