BofA has set a target price of ₹11,000 for Polycab, implying an upside of 21.4% from its previous close of ₹9,060. For KEI Industries, the brokerage has assigned a target price of ₹6,300, indicating an upside of 13.7% from its previous close of ₹5,540.
BofA on Polycab
BofA described Polycab as a “steady structural compounder”, highlighting its position as an industry leader with what it sees as the strongest competitive position in the wires and cables segment.
The brokerage said five moats underpin Polycab’s market share, margins and returns, while acknowledging that competition remains a risk. However, it believes the risk is currently overestimated.
At ₹9,060, Polycab trades below the BofA target of ₹11,000, offering a potential upside of 21.4%.
The broader analyst consensus remains positive. According to Bloomberg data, 26 of 35 analysts covering the stock have a Buy rating, while eight have a Hold rating and one has a Sell rating. The 12-month consensus target price is ₹10,214, implying around 12.7% upside from the previous close.
BofA on KEI Industries
For KEI Industries, BofA initiated coverage with a Buy rating and a target price of ₹6,300, implying 13.7% upside from the previous close of ₹5,540.
The brokerage termed KEI a “growth leader” and said it is the fastest-growing player in the wires and cables space.
While BofA acknowledged that competition risk is real, it believes the risk is overestimated. The brokerage also noted that the stock’s upside has been moderated following its sharp year-to-date rally, but said the valuation remains attractive.
Bloomberg analyst data shows 14 of 27 analysts covering KEI have a Buy rating, while 12 have a Hold rating and one has a Sell rating. The 12-month consensus target price stands at ₹5,880, implying around 6.3% upside from the previous close.
Stock movement
Shares of Polycab India were trading 0.78% up at ₹9,130.50 following BofA’s initiation on the stock. It has advanced 19% since January this year and has delivered over 28% returns in the last 12 months.
Shares of KEI Industries were trading 0.63% up on Thursday at ₹5,575, following the initiation. The stock has gained more than 23% so far in 2026 and over 44% in the last one year.
While BofA sees Polycab as a structurally strong compounder backed by competitive moats, it views KEI as the growth leader in the segment, even after its sharp year-to-date rally.
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