The brokerage set a price target of ₹11,000 for Polycab, implying 22% upside, and ₹6,300 for KEI, suggesting 14% upside. Polycab shares fell 0.4% to ₹9,035 on Thursday, while KEI gained 0.1% to ₹5,538.90. The brokerage values both stocks at 40 times two-year forward earnings, or 1.5 standard deviations above their historical averages.
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