Hot Pursuit     19-May-23
KEI Inds climbs on bagging long-term lease on industrial land in Gujarat
KEI Industries jumped 4.12% to Rs 2002.45 after the company said it was granted a long-term lease for 99 years on an industrial land measuring 2,88,106 square meters at Sanand-II Industrial Estate in Gujarat.
The land has been allocated by the Gujarat Industrial Development Corporation (GIDC). On 18 May 2023, KEI Industries took possession of the land.

The purpose of acquiring this land is to establish a greenfield manufacturing facility for the production of electrical cables and wires.

KEI Industries is involved in manufacturing low tension, high tension and extra high voltage cables, along with control and instrumentation and specialty cables, house wires and stainless-steel wires.

KEI Industries reported 19% rise in consolidated net profit to Rs 138.10 crore on a 9% increase in net sales to Rs 1954.53 crore in Q4 FY23 over Q4 FY22.

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