FINCABLES

** Cables and wires makers Polycab India POLC.NS, KEI Industries KEIN.NS plunge ~7% and ~9%, respectively

** Havells India HVEL.NS, Finolex Cables FNXC.NS fall 4% and ~3%

** Adani Enterprises ADEL.NS says its unit incorporated a JV with cables company Praneetha Ventures

** ADEL's unit will hold 50% of the share capital in the JV

** POLC, KEIN, HVEL and FNXC lost 12%, 21%, 3% and 5% respectively, since UltraTech Cement ULTC.NS announced it will enter the segment

** POLC, KEIN, HVEL, FNXC rated "buy" on average, per data compiled by LSEG

(Reporting by Manvi Pant in Bengaluru)

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Feb 12 (Reuters) - Finolex Cables Ltd FNXC.NS:

• DEC-QUARTER CONSOL NET PROFIT 1.47 BILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 11.82 BILLION RUPEES

Source text: ID:nBSE8pgk3Z

Further company coverage: FNXC.NS

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Nov 12 (Reuters) - Finolex Cables Ltd FNXC.NS:

• SEPT-QUARTER CONSOL NET PROFIT 1.18 BILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 13.12 BILLION RUPEES

Source text: ID:nBSE1jK4Vf

Further company coverage: FNXC.NS

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** India's small- and mid-cap firms in Jefferies' coverage universe post 36% EPS growth in June-qtr, with over 50% beating expectations

** Says top performers were electronics makers like Kaynes KAYN.NS, Amber Enterprises AMBE.NS and Dixon DIXO.NS

** Second-best were summer beneficiaries Voltas VOLT.NS, Blue Star BLUS.NS, Whirlpool of India WHIR.NS, Crompton Greaves CROP.NS, Havells HVEL.NS and V Guard VGUA.NS

** Third-best were capex and housing-linked firms like Polycab POLC.NS, Supreme Industries SUPI.NS, Pidilite PIDI.NS

** Says its top picks are V Guard, Supreme Industries, Amber Industries

** Has "buy" ratings on Voltas, Blue Star and Finolex Cables FNXC.NS

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Shares of Finolex Cables FNXC.NS rise as much as 19.2% to hit record high at 1,363.30 rupees

** Stock marks sharpest intraday pct gain since Nov. 8, 2012

** FNXC on Thursday before markets closed reported 6.3% Y/Y rise in Q4 consol net profit while rev from ops grew 14.4% Y/Y

** Co also declared a dividend of 8 rupees per share

** Jefferies, while maintaining its "buy" rating on the stock, has raised it TP to 1,390 rupees from 1,230 rupees

** Stock is witnessing its most active trading session since May 25, 2021 with more than 5.5 mln shares change hands, 16.7x of 30-day avg

** Avg rating of 5 analysts equivalent of "strong buy", median PT is 1,130 rupees - LSEG data

** Stock up 22.5% YTD

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

May 23 (Reuters) - Finolex Cables Ltd FNXC.NS:

• DIVIDEND 8 RUPEES PER SHARE

• MARCH-QUARTER CONSOL NET PROFIT 1.86 BILLION RUPEES VERSUS 1.75 BILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 14.01 BILLION RUPEES VERSUS 12.24 BILLION RUPEES

Source text for Eikon: ID:nBSE7lFztY

Further company coverage: FNXC.NS

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** Consumer demand for Indian electricals is soft ahead of summer, with no major pricing action seen yet, Jefferies says, citing channel checks

** Adds air conditioner (AC) stocking, which was delayed due to extended winter in north India, likely to gain traction by month-end on rising temperatures

** Forecast of above-average temperatures fuels expectations of "good upcoming summer" - note

** Says electronics-maker Amber Enterprises India AMBE.NS, "Lloyd"-branded AC seller Havells India HVEL.NS, fan maker Crompton Greaves CROP.NS and stabiliser seller V-Guard Industries VGUA.NS are key plays on a "good summer"

** Adds AC is 40% of AMBE's sales mix, Polycab India POLC.NS and Finolex Cables FNXC.NS have smaller exposures among cable makers

** Except HVEL, which is rated "hold", Jefferies recommends "buy" on all other stocks

** FNXC up 4.4%, HVEL, AMBE, CROP, VGUA and POLC down between 1%-2.7%

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of Finolex Cables FNXC.NS fall 6% to 1,068.7 rupees, headed for worst day since Sept-end

** Stock was down 3.5% before results

** FNXC's consolidated net profit for Oct-Dec qtr falls 2% as expenses rise faster than revenue

** Stock looks set to snap 4-day wining run

** Seven analysts covering FNXC rate it "buy" on avg; median PT is 1,165 rupees - LSEG data

** Stock erases all YTD gains

(Reporting by Nandan Mandayam in Bengaluru)

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BENGALURU, Jan 29 (Reuters) - India's wires and cables maker R R Kabel RRKA.NS reported a third-quarter profit slide on Monday, as higher costs dented the impact of strong demand from the real estate sector.

The company's consolidated profit slipped 0.7% to 709.6 million rupees ($8.5 million) in the quarter ended December, according to an exchange filing.

The profit drop comes after R R Kabel's bottomline more-than-doubled in the second quarter. The company listed its shares in September 2023.

A 5% year-on-year rise in copper prices, a key raw material, spiked total expenses by nearly 12%, eclipsing a 10% rise in revenue from operations.

India's cables and wires makers are benefitting from a demand surge in housing and construction sectors, helped by the government's infrastructure push ahead of national polls this year.

Rivals Havells HVEL.NS and Polycab India POLC.NS have posted higher profits in the December quarter. Finolex Cables FNXC.NS will report its results next month.

Shares of R R Kabel, which have fallen about 6% so far this year, closed 0.8% higher ahead of the results.

($1 = 83.1230 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Mrigank Dhaniwala)

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** Brokerage Jefferies says second-half demand for India's Finolex Cables FNXC.NS may outpace that for fiscal first half, aided by construction boost

** Adds capacity expansions and better traction in margin-accretive segments like construction, agriculture could support growth

** Copper prices stabilised in November from a softer October; FNXC took price cuts worth avg. 3%-4% in October - note

** Jefferies highlights healthy scope in extra high voltage segment; flags muted communication segment on delayed orders, soft fiber prices

** Brokerage retains "buy" with PT at 1,245 rupees, implying 31% upside

** Stock last up 0.9%, taking YTD gains to ~75%

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

** Polycab India POLC.NS, Supreme Industries SUPI.NS are the top mid-cap picks for Jefferies, post September quarter earnings season

** Jefferies foresees capex and housing to continue to deliver healthy volume growth

** Brokerage also identifies Amber Enterprises AMBE.NS, Pidilite Industries PIDI.NS, Finolex Cables FNXC.NS among its top mid-cap picks

** Jefferies key earnings per share (EPS) downgrades from mid-cap segment: UPL UPLL.NS, Graphite India GRPH.NS, HEG HEGL.NS, Crompton Greaves Consumer Electricals CROP.NS, Whirlpool of India WHIR.NS

** "Healthy operating margin expansion drove 44% year-on-year profit growth in our small- and mid-cap coverage," says Jefferies

** The Nifty Mid-cap 100 .NIFMDCP100 has gained 33.2% in 2023 so far, while small-caps .NIFSMCP100 have jumped 42.4%, outperforming benchmark Nifty's .NSEI 9.23% rise

** Both mid- and small-caps are at record highs

(Reporting by Bharath Rajeswaran in Bengaluru)

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Nov 9 (Reuters) - Finolex Cables Ltd FNXC.NS:

• INDIA'S FINOLEX CABLES LTD SEPT-QUARTER CONSOL NET PROFIT 1.54 BILLION RUPEES VERSUS PROFIT 553.7 MILLION RUPEES

• FINOLEX CABLES LTD SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 11.87 BILLION RUPEES VERSUS 10.91 BILLION RUPEES

Source text for Eikon: ID:nBSEbWBgXr

Further company coverage: FNXC.NS

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** Shares of Finolex Industries FINX.NS fall as much as 8.09% to 206.65 rupees

** The polyvinyl chloride pipes maker posts 6.17% Y/Y slide in Q2 revenue from operations

** Brokerage Investec terms the drop in revenue "dismal"

** Adds resolution on ownership dispute between Deepak Chhabria and Prakash Chhabria, crossholding of FINX and Finolex Cables could help in stock re-rating

** Finolex Cables shareholders, including Prakash Chhabria-controlled Orbit Electricals and Finolex Industries, voted against appointment of Deepak Chhabria as executive chairman

** Orbit Electricals and FINX hold 30.7% and 14.51% stake in Finolex Cables, respectively

** FINX down 6.36% in October and 18.5% YTD so far, including today's losses

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463))

BENGALURU, Sept 15 (Reuters) - Indian wires and cables maker RR Kabel's initial public offering, valued at about 19.64 billion rupees ($236.25 million), was oversubscribed nearly 19 times on Friday, according to data from the National Stock Exchange.

Investors bid for 248.9 million shares by the final day of bidding, 18.69 times the 13.3 million shares on offer.

Mumbai-based RR Kabel, which is backed by private equity firm TPG, priced its IPO between 983 rupees and 1,035 rupees, according to a newspaper advertisement last week.

TPG, which owns a 16.67% stake in the company, will sell shares worth up to 13.35 billion rupees, or nearly 70% of its total holding in RR Kabel, based on Reuters calculations.

RR Kabel plans to use the proceeds to repay outstanding debt, which was 7.77 billion rupees as of Aug. 28, according to the prospectus.

The company's consolidated revenue in fiscal 2023 rose about 28% to 55.99 billion rupees from a year earlier, while profit dropped more than 11%.

RR Kabel competes with companies such as Polycab India POLC.NS and Finolex Cables FNXC.NS, whose shares have more than doubled so far this year on the back of government infrastructure spending and a real estate upcycle.

Axis Capital, Citigroup, HSBC Securities and JM Financial are the lead book-running managers for the RR Kabel IPO.

($1 = 83.1320 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru; Editing by Shounak Dasgupta)

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BENGALURU, Sept 8 (Reuters) - Indian wires and cables maker RR Kabel has priced its initial public offering (IPO) between 983 rupees and 1,035 rupees, according to a newspaper advertisement on Friday, valuing the offering at around 19.64 billion rupees ($236.19 million).

The Mumbai-based company, backed by private equity firm TPG, will issue new shares worth 1.8 billion rupees, as per its prospectus dated Sept. 6, while existing shareholders will sell shares worth 17.84 billion rupees.

TPG, which owns a 16.67% stake in the firm, will sell shares worth up to 13.35 billion rupees ($160.54 million). This is nearly 70% of its total holding in RR Kabel, according to Reuters' calculations.

RR Kabel would use proceeds from the fresh issue to repay its outstanding loans, which stood at 7.77 billion rupees as of Aug. 28, as per the prospectus.

Its annual consolidated revenue in fiscal 2023 climbed about 28% to 55.99 billion rupees from a year ago, while profit dropped over 11%.

RR Kabel competes with companies such as Polycab India POLC.NS and Finolex Cables FNXC.NS, shares which have soared more than 100% so far this year on the back of government infrastructure spending and a real estate upcycle.

Axis Capital, Citigroup, HSBC Securities and JM Financial are the lead book-running managers of the IPO.

($1 = 83.1550 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Janane Venkatraman)

(([email protected]; X: @MukherjeeHritam;))

** Shares of Finolex Cables FNXC.NS surges as much as 8.75% to 1,118.15 rupees after multiple brokerages reiterate "buy" on the cables maker

** FNXC to be beneficiary of housing and capex in India; communication segment to gain from 5G rollout: Jefferies

** Jefferies raises EPS estimates by 7-8% over FY24-26

** FNXC's wire and cable volumes to rise with gradual improvement in construction and infrastructure: Phillip Capital

** Phillip Capital raises PT to 1,356 rupees from 1,069 rupees

** FNXC reported 33.33% Y/Y rise in consolidated net profit in June quarter; revenue from operations up 18.51%

** Including day's gains, FNXC up ~103% in 2023 so far compared to 8.3% rise in the Nifty 500 index .NIFTY500

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463))

Finolex Cables Ltd FNXC.NS:

• FINOLEX CABLES LTD- DEEPAK CHHABRIA REAPPOINTED AS EXECUTIVE CHAIRMAN

Source text for Eikon: ID:nNSE2dHz2r

Further company coverage: FNXC.NS

** Shares of Finolex Cables Ltd FNXC.NS fall as much as 6.01% to 792.55 rupees, a two-month low

** Slide comes after the electrical cables maker reports 22% fall in consolidated net profit in March quarter to 1.75 bln rupees

** Revenue up 3% at 12.24 bln rupees

** Trading volume is 590,830 shares as of 2:38 p.m. IST, 1.5 times the 30-day avg - Refinitiv data

** Of the seven analysts tracking FNXC, five maintain "buy" and two suggest "hold"; median TP is 893 rupees

($1 = 81.7800 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

May 26 (Reuters) - Finolex Cables Ltd FNXC.NS:

• MARCH-QUARTER CONSOL NET PROFIT 1.75 BILLION RUPEES VERSUS PROFIT 2.24 BILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 12.24 BILLION RUPEES VERSUS 11.87 BILLION RUPEES

• DIVIDEND 7 RUPEES PER SHARE

Source text for Eikon: ID:nBSE1LF58X

Further company coverage: FNXC.NS

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April 20 (Reuters) - Finolex Cables Ltd FNXC.NS:

• FINOLEX CABLES LTD - CO TO SET UP A PLANT AT URSE FACILITY, PUNE

• FINOLEX CABLES LTD - PLANT WITH AN INITIAL CAPACITY OF 100 TONS OF PREFORMS, IS BEING SET UP AT A COST OF 2.9 BILLION RUPEES

• FINOLEX CABLES LTD - TO SET UP PLANT TO PRODUCE OPTICAL FIBRE PREFORMS AS WELL AS EXPAND ON ITS FIBRE DRAW CAPACITY

• FINOLEX CABLES LTD- PRODUCTION FROM NEW PLANT IS EXPECTED TO COMMENCE IN 15 MONTHS APPROXIMATELY FROM DATE OF COMMENCEMENT OF CONSTRUCTION

• FINOLEX CABLES LTD - PLANT'S CAPACITY WOULD BE SCALABLE, WOULD BE EXPANDED AT A LATER DATE SUBJECT TO MARKET REQUIREMENTS

Source text for Eikon: ID:nBSE1VsC10

Further company coverage: FNXC.NS

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