Morgan Stanley has initiated an Overweight rating on KEI Industries with a target price of ₹4,391, citing its strong cables and wires (C&W) franchise and favorable growth drivers. The brokerage noted that KEI’s business model continues to improve, with multiple domestic growth drivers supporting its long-term outlook.
Morgan Stanley highlighted the Future of Energy theme as a key growth driver, alongside strong export demand due to the current multipolar manufacturing dynamics. The brokerage also emphasized KEI’s strategic capex plans to meet domestic and export demand.
Morgan Stanley forecasts KEI Industries to achieve a 23% earnings CAGR over FY25-28, supported by its market leadership, strategic initiatives, and favorable industry dynamics. The brokerage remains positive on KEI’s long-term growth prospects and strategic expansion plans.
