Brokerage Nuvama said the new launch sets ambition of becoming one of the top two C&W players and the second-largest wires player by capacity.
UltraTech Cement’s entry into the wires and cables industry has triggered volatility across stocks such as Polycab and RR Kabel. The new entrant could pressure valuations in the near term, but the overall market opportunity remains large, driven by power generation and data centre demand. Avinash Gorakshakar, Founder, Avinash Mentor Research, says sentiment may remain cautious initially, but execution, order growth and financial performance will determine the long-term winners. He highlights Finolex, KEI Industries and Polycab as potential accumulation opportunities during significant corrections. The expert believes their strong businesses remain largely protected despite increasing competition and the sector’s evolving competitive landscape.
JM Financial downgraded its ratings on the three stocks, citing concerns over the growth outlook for the cables and wires (C&W) industry.
The foreign brokerage picked five stocks namely Siemens Energy Ltd, Hitachi Energy, Hindustan Aeronautics Ltd (HAL), KEI Industries Ltd and Larsen & Toubro Ltd, suggesting 25-51 per cent potential upside.
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.
Indian markets traded cautiously as banking and financial stocks supported the Nifty, while FMCG, IT, oil and gas, and PSU banks remained subdued. In this episode of What's Hot we examines the Lumino Industries IPO, including its price band, issue structure, manufacturing and EPC businesses, order book growth, debt repayment plans, valuation, and key risks. Market expert Sunny Agrawal explains why several brokerages have issued subscribe recommendations, while highlighting government customer concentration, working capital pressure, commodity volatility, and execution challenges. The discussion also covers opportunities in BFSI, auto ancillaries, metals, building materials, diagnostics, power equipment, and defense. Featured stocks include BEL, Hindustan Copper, Polycab, KEI Industries, Apollo Tyres, CEAT, and Lupin.
Manufacturing will be critical to India’s ambition of becoming a developed economy by 2047. In this #IndiaAt100 session, Anil Gupta, CMD, KEI Industries; Ranjan Dhar, Director, ArcelorMittal Nippon Steel; Rahul Jain, India Head, BCG; and Sangeet Kumar, CEO & Co-founder, Addverb, discusses the forces shaping India’s next manufacturing wave. From clean energy and infrastructure to steel, electrical equipment, investment and global competitiveness, the panel explores how Indian industry can accelerate growth and build the foundations of Viksit Bharat. This session is moderated by Business Today TV’s Shailendra Bhatnagar & Business Today’s Krishna Gopalan.
Companies like KEI Industries are also exporting more from India.
Optical fibre cable was the key outperformer, with revenue rising 115 per cent and EBIT jumping 631 per cent. Nuvama attributed this to strong hyperscaler, artificial intelligence and data-centre capital expenditure.
India's wires and cables sector continues to benefit from multiple long-term growth drivers, including AI data centres, renewable energy, power transmission, and real estate. Abhishek Basumallick, Co-founder & Fund Manager, Shree Rama Managers, remains highly bullish on the segment, saying demand is expanding across infrastructure and industrial projects. Companies such as Polycab and KEI Industries are well-positioned to benefit from increasing investments in grid expansion, solar parks, and housing. With structural demand expected to remain strong, the sector could continue delivering healthy growth and remain an attractive investment opportunity over the medium to long term.
KEI Industries delivered a strong start to FY27 with robust growth across key financial metrics. Revenue crossed the ₹3,100-crore mark, while net profit surged 40% year-on-year and EBITDA growth outpaced revenue, supported by higher operating efficiency and margin expansion. But can this momentum continue? What is the outlook for demand in the wires and cables business, exports, capacity utilisation and the EPC segment? In this exclusive conversation on Business Today Television, KEI Industries CMD Anil Gupta discusses the company's Q1 performance, margin sustainability, raw material costs, future expansion plans and growth opportunities ahead. Tune in for management's outlook on the business environment and the key triggers investors should watch in the coming quarters.
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