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BofA initiates coverage on Polycab, KEI with buy ratings; sees up to 22% upside

BofA expects India's wires and cables industry to grow at a 14% compound annual rate between FY26 and FY29, supported by spending on infrastructure, renewable energy and power grids, as well as…

  • BofA Securities initiates coverage on Polycab India and KEI Industries with Buy ratings.
  • Both stocks see potential upside: 22% for Polycab and 14% for KEI.
  • India wires and cables industry expected to grow 14% CAGR from FY26 to FY29.

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