{ }
001122334455554433221100
001122334455554433221100

Goldman Sachs downgrades Polycab and KEI Industries amid rising competition

Goldman Sachs downgraded Polycab India Ltd to "neutral" from "buy," cutting its price target to ₹5,005 from ₹6,510, while also reducing KEI Industries' target to ₹3,130 from ₹3,780. The firm remains positive on India's cables and wires sector but is cautious due to increased competition and supply build-up. Following UltraTech Cement's entry into the market, other brokerages have also adjusted their price targets for both companies.

goldman sachs notes rising competition in cables and wires sector

Goldman Sachs has noted increased competition in the cables and wires sector, particularly following Ultratech Cement's entry. The firm downgraded Polycab to 'Neutral' with a target price of Rs 5,005 and KEI Industries to a target of Rs 3,130, while remaining optimistic about near-term demand and export potential. Analysts suggest Ultratech's aggressive pricing strategy could disrupt the market and negatively impact existing players' margins.

NSE adds 45 new stocks to futures and options trading segment

The National Stock Exchange (NSE) has expanded its futures and options (F&O) segment by adding 45 new stocks, effective November 29, 2024, increasing the total to 223. This inclusion, following SEBI’s revised criteria, aims to enhance liquidity and market participation, featuring notable stocks like LIC, Jio Financial Services, and Zomato. Analysts anticipate that this move will boost trading volumes and improve price discovery for these stocks.

KEI Industries raises 2000 crore through successful qualified institutional placement

KEI Industries has successfully raised Rs 2,000 crore through a qualified institutional placement (QIP) of 52.6 lakh equity shares at Rs 3,800 each, with strong participation from domestic mutual funds. Kotak Mutual Fund emerged as the largest investor, acquiring 27.51% of the shares, while Motilal Oswal and Government Pension Fund Global received 13% and 5.15%, respectively. The funds will enhance the company's financial flexibility, support growth initiatives, and strengthen its balance sheet.

Zomato raises 8500 crore through successful QIP issue in stock market

Zomato has successfully closed its Qualified Institutional Placement (QIP), raising Rs 8,500 crore by allocating 33.64 crore equity shares at Rs 252.62 each, which is a 5% discount to the floor price of Rs 265.91. In addition, stocks such as KEI Industries and Newgen Software are also in focus for trading today.
Trending
Subcategory
Countries:
Companies:
Currencies:
People:

Machinary offers a groundbreaking, modular, and customizable solution that provides advanced financial news and statistical analysis. Our platform goes beyond traditional quantitative analysis, offering users a comprehensive understanding of real-time market dynamics, event detection, and risk analysis.

Address

Newsletter

© 2025 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings

Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.