Why Wires and Cable Stocks Like Polycab, Havells, KEI, and Others Should Be on Your Radar Today; Here’s Why
Are you looking for a hidden gem in the Indian market? Look no further! Polycab, Havells, KEI, and other wires and cable stocks should be on your radar today; Here’s why.
India’s Wires and Cables Industry: A Growth Story
India’s wires and cables industry has been growing at an astonishing rate of nearly 13% per annum, driven by increasing demand from infrastructure development, construction, and the rise of electric vehicles. This growth is expected to continue, making it an attractive investment opportunity.
UltraTech Cement’s Foray into Wires and Cables
In a surprise move, India’s largest cement company, UltraTech Cement Ltd., has announced its entry into the wires and cables segment with a capex of ₹1,800 crore over two years. This strategic move is expected to create a new revenue stream for the company, which could lead to increased profitability.
Where do Wires and Cables Stocks Stand?
Polycab, Havells, KEI, and other wires and cables stocks have corrected significantly from their recent peaks, amidst the ongoing broader markets sell-off. Polycab, Havells, KEI, and other wires and cable stocks should be on your radar today; Here’s why.
Clarity from Recent Results
During its recent quarterly results, Polycab mentioned that it will achieve its ₹20,000 crore annual revenue target in financial year 2025, a year ahead of its initial guidance of financial year 2026. This revised target suggests that the company is confident about its growth prospects.
Recent Performance Comparison
Here’s how these stocks have corrected from their highs:
| Stock | Fall from Highs |
|---|---|
| Polycab | -25% |
| Havells | -27% |
| KEI Industries | -25% |
| RR Kabel | -41% |
| Finolex Cables | -47% |
Brokerage Firm’s Take
Brokerage firm Jefferies has maintained its "buy" rating on UltraTech Cement with a price target of ₹13,265. They believe that any knee-jerk negative reaction in UltraTech should be used as a buying opportunity.
Conclusion
Wires and cable stocks like Polycab, Havells, KEI, and others are an attractive investment opportunity in today’s market. With the industry growth rate of 13% per annum and UltraTech Cement’s foray into the segment, it’s a great time to diversify your portfolio with these stocks. Don’t miss the opportunity to get in on this growth story! Polycab, Havells, KEI, and other wires and cable stocks should be on your radar today; Here’s why.
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