KEI Industries gains on receiving approval to incorporate WOS in Australia

10 Dec 2015

KEI Industries is currently trading at Rs. 104.20, up by 0.90 points or 0.87% from its previous closing of Rs. 103.30 on the BSE.

The scrip opened at Rs. 105.50 and has touched a high and low of Rs. 106.40 and Rs. 102.40 respectively. So far 63,000 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 2 has touched a 52 week high of Rs. 121.70 on 20-Aug-2015 and a 52 week low of Rs. 40.15 on 17-Dec-2014.

Last one week high and low of the scrip stood at Rs. 111.50 and Rs. 102.40 respectively. The current market cap of the company is Rs. 803.27 crore.

The promoters holding in the company stood at 49.39% while Institutions and Non-Institutions held 12.21% and 38.40% respectively.

KEI Industries has received an approval for setting up a wholly owned subsidiary (WOS) of the company in Australia. The board of directors at their meeting held on December 09, 2015 has approved for the same. The company will now proceed to take necessary steps as required under the applicable laws for setting up WOS in Australia.

The purpose of setting up of the said subsidiary is to bid Cable Supply Tenders and Turnkey Cable Projects/Contracts and such other business opportunities as determined by the company from time to time.

KEI industries incorporated in 1968, is engaged in manufacturing of high and low tension cables (EHT, HT and LT), control and instrumentation cables, house wires and stainless steel wires.



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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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