Shares of KEI Industries witnessed a sharp decline of 9.54% in early trade on March 20, dragging the stock price to ₹2,969.95 as of 9:51 AM. The stock opened at ₹3,155.25, hit a high of ₹3,169.95, and slipped to an intraday low of ₹2,966.70.
KEI Industries stock performance as of 9:51 AM:
- Current Price: ₹2,969.95 ▼ 9.54% (-₹313.30)
- Day’s High: ₹3,169.95
- Day’s Low: ₹2,966.70
- Previous Close: ₹3,283.25
- 52-Week Range: ₹2,902.85 – ₹5,039.70
The sharp decline in KEI Industries’ stock comes amid reports that Adani Enterprises, via its subsidiary Kutch Copper Ltd, is entering the ₹50,000 crore wires & cables market with a 50:50 joint venture named Praneetha Ecocables. This move is expected to increase competition for existing players like KEI Industries, Polycab, Havells, and Finolex Cables, leading to investor concerns over market share and pricing pressure.
Disclaimer:
The information provided is for reporting purposes only and does not constitute investment advice. Readers should conduct their own research and consult financial professionals before making any investment decisions.
