Hi Ishu, although i appreciate what you are saying and your willingness to buy this as it corrects one has to consider something very important – how many Indian industrials stocks are there that fit into category of KEI – benefiting from structural tailwinds, Power and Transmission, Housing, Exports, Data centers. On top of that you add the consistent commentary by management around margins and prudent capital management with new capacity coming in next year. The management has so far been clean and if you consider the forward looking multiple it is actually not that bad of a name. RR Kabel, a much more inferior business has been given similar or even higher rating than KEI in the past so I think if KEI continues to deliver the multiple will remain steady unless investors find a very good replacement for KEI in their portfolios
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