KEI Industries shares fall up to 11% as September quarter results miss estimates; here's what brokerages say
Motilal Oswal said the margin in the wires and cables business was below expectations but maintained a positive view on the segment, citing strong long-term growth drivers.
KEI Industries shares fell more than 11 percent to Rs 3,744.80 per share on the NSE on Thursday, hitting a nine-month low, after the company's net profit for the September quarter missed analysts' estimates. The company reported a net profit of Rs 262 crore for the quarter, against the consensus estimate of Rs 272 crore, reported Informist. Its earnings before interest, tax, depreciation and amortisation (EBITDA) margin declined 81 basis points year-on-year to 10.62 percent.
