High ROE & high ROCE multibagger stock: Mid-cap company secures Industrial Land for greenfield expansion from GIDC!
The company's shares experienced a significant increase in volume, more than 3.08 times, on the BSE.
KEI Industries Limited has been allotted industrial land, measuring 2,88,106 square meters, at Sanand-II Industrial Estate, Gujarat, on a long-term lease for 99 years by Gujarat Industrial Development Corporation (GIDC). The company took possession of the land on May 18, 2023. This land will be used for the greenfield expansion of manufacturing electrical cables and wires.
On Friday, shares of KEI Industries surged 5.33 per cent to Rs 2,025.80 per share, reaching an intraday high of Rs 2,034.95 and an intraday low of Rs 1,926.05.
KEI Industries Limited manufactures cables and stainless-steel wires for building and construction, defence, telecommunications, and other industries. The company's shares experienced a significant increase in volume, more than 3.08 times, on the BSE.
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According to the financials, KEI Industries has a market capitalization of Rs 18,271.18 crore. The company reported excellent numbers in its quarterly and annual results. The stock has a return on equity (ROE) of 25 per cent and a return on capital employed (ROCE) of 26 per cent.
The stock delivered multibagger returns of 235 per cent in just 2 years and over 650 per cent in 3 years. Investors should keep an eye on this Mid-Cap stock.