News for KEI Industries Limited (KEI.BO)

In the Nifty pack, 9 stocks were trading in the green, while 41 stocks were trading in the red.

The NSE Nifty index was trading 102.35 points up at 23293.0

Welspun Corp, Kaveri Seed Co., AstraZeneca, Aavas Financiers and Avanti Feeds, hit their fresh 52-week highs during the day.

The Nifty Bank index closed 0.72 per cent up at 50062.85.

In the Nifty 50 index, 46 stocks ended in the green, while 4 stocks closed in the red in today's trade.

The Nifty IT index closed 1.25 per cent up at 36676.65.

IndusInd Bank, Bajaj Finance, Trent, Shriram Finance and UltraTech Cem. were among the top losers on NSE in today's trade.

The Nifty Auto index closed 1.42 per cent up at 21623.05.

In the Nifty50 index, 46 stocks closed in the green, while 4 stocks ended in the red.

The Nifty Realty index closed 1.07 per cent up at 854.4.

The Nifty Pharma index closed 0.92 per cent up at 21340.6.

The NSE Nifty index closed 283.06 points up at 23190.65

Adani Group and Aditya Birla Group have recently entered the cables & wires (C&W) sector, traditionally dominated by smaller companies. Their entry may lead to increased competition and potential consolidation in the market. Domestic and global demand for C&W products remains strong, with the sector poised for steady growth driven by infrastructure and industrial expansion.

Adani Enterprises’ subsidiary, Kutch Copper, has incorporated a 50:50 joint venture company -- Praneetha Ecocables Ltd -- with Praneetha Ventures.

Narayana Hruday, Kaveri Seed Co., Aavas Financiers, InterGlobe and Bohra Industries, hit their fresh 52-week highs at 11:26AM.

The Nifty Realty index was trading 0.72 per cent up at 851.45.

KEI share price: Shares of KEI Industries plunged 14.3% after Adani Enterprises announced its entry into the cables and wires sector via a JV with Praneetha Ventures. Rival stocks Polycab and Havells also fell up to 8.5% on competition fears. KEI, already under pressure, extended its YTD decline to 14%, while Adani Enterprises traded higher at **Rs 2,

The Nifty IT index was trading 1.33 per cent up at 36704.05.

The Nifty Bank index was trading 0.32 per cent up at 49860.2.