Polycab, KEI Industries: BofA Buy Calls, Targets Up To ₹11,000; Sunny Agrawal Picks Polycab

BofA Securities has initiated coverage with a Buy rating on Polycab and KEI Industries, with targets of ₹11,000 and ₹6,300, respectively. Sunny Agrawal, DVP, Head of Fundamental Desk, SBI Securities, says Polycab remains his top pick in the wires and cables space. He highlights strong Q1 growth, with revenue rising 39% year-on-year, while EBIT and profit grew 32% and 33%. Higher copper prices could also trigger channel pre-buying, supporting near-term growth. Agrawal remains bullish on Polycab, with a medium- to long-term fair value range of ₹10,500–₹11,000.