The share price of KEI Industries is experiencing a decline today, as broader market indices such as Nifty and Sensex also face downward pressure. As of October 24, 2024, KEI shares are trading at ₹4001.30, reflecting a reduction of 1.23% from the previous closing price. This dip comes amid shifting market dynamics and heightened trading volumes, indicating a significant shift in investor sentiment.
| Table of Contents |
|---|
| Current Stock Performance |
| Trading Volume Analysis |
| Technical Analysis |
| Fundamental Analysis |
| Shareholding Pattern |
| Comparative Performance with Peers |
| Market Context and Conclusion |
Current Stock Performance
Today’s trading details for KEI shares reveal a challenging session:
| Details | Value (₹) |
|---|---|
| Current Share Price | 4001.30 |
| Percentage Decline | -1.23% |
| Opening Price | 4051.35 |
| Closing Price | 4001.30 |
| Intraday High | 4096.45 |
| Intraday Low | 3985 |
Trading Volume Analysis
There has been a significant increase in trading volume for KEI shares today. Current statistics show an increase of 139.75% compared to the previous session, signaling a major shift in investor activity. Increased trading volumes, coupled with a decline in share price, often suggest a bearish sentiment, raising the possibility of continued downward movement.
Technical Analysis
From a technical standpoint, KEI shares are currently trading above the 300-day Simple Moving Average (SMA) but are falling below the 5, 10, 20, 50, and 100-day SMAs. This positioning indicates potential resistance at these shorter-term moving averages while the 300-day SMA may act as a support.
| Resistance Levels |
|---|
| ₹4151.02 |
| ₹4251.93 |
| ₹4364.17 |
| Support Levels |
|---|
| ₹3937.87 |
| ₹3825.63 |
| ₹3724.72 |
Fundamental Analysis
Examining KEI’s financial fundamentals provides further insights:
| Financial Ratios | Value |
|---|---|
| Return on Equity (ROE) | 20.25% |
| Price to Earnings (P/E) Ratio | 58.67 |
| Price to Book (P/B) Ratio | 10.57 |
Looking ahead, the median 1-year forecast predicts a potential upside of 24.46%, with a target price of ₹4980.00.
Shareholding Pattern
The current shareholding breakdown offers insights into the stock’s ownership structure:
| Shareholding Category | Holding (%) |
|---|---|
| Promoter Holding | 0.00% |
| Mutual Fund Holding | 1.42% |
| Foreign Institutional Investors (FII) | 31.11% |
The mutual fund holdings have decreased from 1.54% in June, whereas FII holdings have modestly increased from 30.75% earlier this year.
Comparative Performance with Peers
When compared to its peers, KEI’s stock performance highlights a mixed market environment:
- Exide Industries and Amara Raja Energy & Mobility are both experiencing declines.
- In contrast, Apar Industries and Kaynes Technology India are witnessing gains.
Market Context and Conclusion
The broader market today is exhibiting a slight bearish sentiment, with both Nifty and Sensex showing declines of 0.12% and 0.1%, respectively. This overall trend is likely impacting KEI’s share price negatively. Given the technical resistance ahead, coupled with a significant increase in trading volume, investors may need to tread carefully in the coming days.
FAQ
Why are KEI shares declining today?
The decline is attributed to broader market weakness and increased trading volume, indicating potential bearish sentiment among investors.
What is the significance of trading volume?
Increased trading volume can indicate heightened interest in a stock, often suggesting a potential price movement, whether up or down.
What are KEI’s key resistance and support levels?
Resistance levels are noted at ₹4151.02, ₹4251.93, and ₹4364.17, while support levels are at ₹3937.87, ₹3825.63, and ₹3724.72.
