Goldman Sachs has reiterated its buy rating on KEI Industries with a target price of ₹4,000, pointing to its aggressive capacity expansion and strong demand tailwinds in the Indian cables and wires sector. The brokerage highlighted that the industry is expected to grow at a 12–13% CAGR, supported by government infrastructure projects, renewable energy investments, power grid upgrades, and the rise of data centres.
KEI plans to increase capacity by 60% over the next three years and is focusing strategically on high-growth export markets. With these initiatives, the company expects to achieve 19% CAGR growth over the next two years, significantly outpacing industry averages. Goldman Sachs said the combination of domestic demand momentum and export diversification will help KEI improve its market share and sustain strong earnings growth.
Disclaimer: The views and recommendations made in this article are those of Goldman Sachs. This article does not constitute investment advice. Investors should consult their financial advisors before making any investment decisions.
