RRKABEL

** 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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Updates levels, adds RR Kabel

** Indian cables and wires makers Polycab India POLC.NS, KEI Industries KEIN.NS plunge ~19% and ~21%, respectively, hitting lowest levels in nearly 11 months

** Havells India HVEL.NS slides 6% to lowest level in a year

** R R Kabel RRKA.NS falls ~20% to record low; shares debuted in September 2023

** UltraTech Cement ULTC.NS said it will spend 18 bln rupees ($206.3 mln) to start wires and cables business; ULTC down ~5%

** Analysts at J.P. Morgan see ULTC's move as disruptive for the wires and cables industry as it can lead to increased competition

** HSBC says ULTC's foray into the sector will likely have a material impact on industry leaders' growth and margins beyond FY27

** HSBC cuts price targets on POLC, HVEL, KEIN and RRKA by 20%, ~7%, 23%, 21%

** POLC, HVEL, KEIN, RRKA rated "buy" on average - data compiled by LSEG

** Year-to-date, POLC, HVEL down ~21% and ~8%

** KEIN, RRKA have declined 14% and 23%, YTD

($1 = 87.2530 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** India's KEI Industries KEIN.NS climb 3% to 3,840 rupees, set for third straight session of gains

** Brokerage Morgan Stanley starts coverage on cables and wires maker with "Overweight" rating and PT of 4,391 rupees

** KEIN to benefit from its well-diversified channel mix in cables business revenue vs peers Polycab POLC.NS and R R Kabel RRKA.NS, with a balanced presence in retail, institutional, and exports, brokerage says

** Adds, KEIN to also benefit from rising share in exports, from 11% so far in FY25 to 15-17% in next 2-3 years

** Favourable government policies like boosting local manufacturing and minimising imports will benefit KEIN - Morgan Stanley

** Analysts' average rating on KEIN, POLC at "Buy"- LSEG data

** YTD, KEIN has fallen 13.4%, while POLC is down 21%

(Reporting by Kashish Tandon in Bengaluru)

(([email protected]))

Jan 28 (Reuters) - R R Kabel Ltd RRKA.NS:

• Q3 CONSOL PROFIT 685.7 MILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 17.82 BILLION RUPEES

Source text: [ID:]

Further company coverage: RRKA.NS

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** Shares of India's RR Kabel RRKA.NS drop 3% to 1,550 rupees, extend declines to seventh straight session

** Stock set to log worst week since its late-2023 listing, if losses hold

** Co, which makes cables and wires, reported a drop in Q2 profit on higher material costs

** RRKA, on an avg, rated "buy", median TP 2,035 rupees - LSEG data

** YTD stock has shed ~2%

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

Oct 24 (Reuters) - R R Kabel Ltd RRKA.NS:

• SEPT-QUARTER CONSOL PROFIT 495.3 MILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 18.1 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: RRKA.NS

(([email protected];;))

** KEI Industries KEIN.NS drops 5.8% to 4,417.60 rupees; set to snap 6-session winning run

** Wires and cables maker on track for worst day in about 3 months

** KEIN's Q2 profit rises, but EBITDA margins contract

** Motilal Oswal says margin contraction due to sharp fall in rev from highly profitable extra-high voltage cables business

** Q2 EBITDA margin dips to 10.42% vs year-ago 10.88%

** Stock biggest pct loser on Nifty 500 .NIFTY500 index, which is up 0.4%

** Stock rated "buy" on avg, same as smaller peer RR Kabel RRKA.NS - LSEG

** YTD, KEIN trims gains to ~36% but outperforms NIFTY500's 22.2% rise

(Reporting by Nandan Mandayam in Bengaluru)

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July 30 (Reuters) - R R Kabel Ltd RRKA.NS:

• R R KABEL Q1 CONSOL PROFIT 643.8 MILLION RUPEES

• R R KABEL Q1 CONSOL REVENUE FROM OPERATIONS 18.08 BILLION RUPEES

Source text for Eikon: ID:nBSE8N7f42

Further company coverage: RRKA.NS

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May 28 (Reuters) - R R Kabel Ltd RRKA.NS:

• DIVIDEND 3 RUPEES PER SHARE

• Q4 CONSOL PROFIT 787.2 MILLION RUPEES VERSUS 652.9 MILLION RUPEES

• Q4 CONSOL REVENUE FROM OPERATIONS 17.54 BILLION RUPEES VERSUS 15.17 BILLION RUPEES

• RE-APPOINTS SHREEGOPAL RAMESHWARLAL KABRA AS MD

• RE-APPOINTS MAHENDRAKUMAR RAMESHWARLAL KABRA AS JOINT MD

Source text for Eikon: ID:nNSE96M4WR

Further company coverage: RRKA.NS

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April 22 (Reuters) - R R Kabel Ltd RRKA.NS:

• APPROVED TERMINATION OF EMPLOYMENT OF DINESH AGGARWAL AS CHIEF EXECUTIVE OFFICER

• ROLES, RESPONSIBILITIES OF CEO WILL BE TAKEN OVER BY SHREEGOPAL RAMESHWARLAL KABRA, MD

Source text for Eikon: ID:nNSE7VKF8z

Further company coverage: RRKA.NS

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** Wire maker R R Kabel's RRKA.NS shares end marginally higher; Citi starts coverage with "buy" rating and PT of 1,728 rupees

** Stock rose as much as 2.3% earlier in the session

** RRKA's countrywide and export distribution systems well placed for growth in revenue - brokerage

** Brokerage sees company as well positioned in strong domestic real estate market on the back of brand, products and existing market share

** Analysts covering R R Kabel's shares have "buy" or higher rating - LSEG

** Analysts have "buy" rating for peers Polycab POLC.NS and Havells HVEL.NS

** R R Kabel's shares down ~9% so far in March quarter, POLC stock has lost ~14%, while HVEL down ~7%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364))

Jan 30 (Reuters) - R R Kabel Ltd RRKA.NS:

• R R KABEL EXEC: CARGO COSTS INCREASED SIGNIFICANTLY

• R R KABEL EXEC: HAVING TO REROUTE SHIPMENTS TO EUROPE DUE TO RED SEA CRISIS

• R R KABEL EXEC: INCREASED FREIGHT RATE WILL NOT IMPACT BOTTOMLINE

• R R KABEL EXEC: RED SEA CRISIS DELAYING SHIPMENTS BY 10-15 DAYS

• R R KABEL EXEC: INCREASED COSTS WILL BE PASSED ON TO CUSTOMERS

• R R KABEL EXEC: NOT SEEING EXPORT SLOWDOWN IN NEAR TERM

• R R KABEL EXEC: NO SOFTNESS IN DEMAND IN UAE DESPITE GAZA WAR, RED SEA CRISIS

• R R KABEL EXEC: 40%-50% OF OUR EXPORTS GO THROUGH RED SEA ROUTE, ALL OF IT AFFECTED

Further company coverage: RRKA.NS

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Adds details on results in paragraph 6

BENGALURU, Jan 29 (Reuters) - Wires and cables maker R R Kabel RRKA.NS reported a lower third-quarter profit on Monday as high copper prices offset strong demand from the real estate sector.

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

R R Kabel listed its shares in September last year.

Prices of copper, a key raw material for the company, rose 5% during the third quarter, increasing R R Kabel's total expenses by nearly 12%.

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

R R Kabel's core profit margins fell 119 basis points to 6.9% in the third quarter.

Rivals Havells HVEL.NS and Polycab India POLC.NS reported 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 and Shounak Dasgupta)

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

** India's representation in the MSCI global standard index could cross 20% by mid-2024 from 17.1% currently - Nuvama

** Jindal Stainless JIST.NS, Punjab National Bank PNBK.NS, BHEL BHEL.NS and NMDC NMDC.NS among inclusion candidates for global standard index - brokerage

** JIST, PNBK, BHEL and NMDC likely to receive inflows of $149 mln, $144 mln, $137 mln and $132 mln, respectively, Nuvama adds

** The stocks are trading flat currently

** IREDA INAR.NS, Cello World CELO.NS, Honasa Consumer HONA.NS and SignatureGlobal SIGT.NS among inclusion candidates for smallcap index with expected inflows of $11 mln, $7 mln, $6 mln and $4 mln respectively

** Shares of CELO and HONA up ~1%, SIGT up 3%, while IREDA little changed in early trade

** GMR Airports Infrastructure GMRI.NS and Prestige Estates PREG.NS could be excluded from the global standard index, resulting in outflows of $26 mln and $1.8 mln respectively - Nuvama

(Reporting by Kashish Tandon in Bengaluru)

(([email protected]))

Dec 4 (Reuters) - R R Kabel Ltd RRKA.NS:

• INCOME TAX DEPARTMENT OFFICIALS CONCLUDED SEARCH OPERATIONS AT OFFICES AND MANUFACTURING UNITS OF CO

Source text for Eikon: ID:nBSE8fZkjb

Further company coverage: RRKA.NS

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** Shares of R R Kabel RRKA.NS fall as much as 5.5% to 1554.6 rupees, their lowest level since Nov. 8

** Stock last down 2%, sees sixth straight day of losses, having lost 10% during the course

** India's tax department conducts search on some of the consumer electrical company's premises

** Avg recommendation of 5 analysts covering co is "BUY;" their median PT is 1,750 rupees - LSEG data

** Stock, which went public in September, is up 37% so far from its listing price

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

Nov 29 (Reuters) - R R Kabel Ltd RRKA.NS:

• INCOME TAX DEPARTMENT IS CONDUCTING SEARCH AT SOME OF OFFICES, MANUFACTURING UNITS OF CO

• BUSINESS OPERATIONS OF CO CONTINUE AS USUAL, HAVE NOT BEEN IMPACTED DUE TO SEARCH

Source text for Eikon: ID:nNSE2GDv20

Further company coverage: RRKA.NS

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Nov 6 (Reuters) - R R Kabel Ltd RRKA.NS:

• INDIA'S R R KABEL LTD- SEPT-QUARTER CONSOL PROFIT 741 MILLION RUPEES VERSUS 350.1 MILLION RUPEES

• R R KABEL LTD- SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 16.1 BILLION RUPEES VERSUS 13.67 BILLION RUPEES

• INDIA'S R R KABEL LTD- DIVIDEND OF 3 RUPEES PER SHARE

Source text for Eikon: [ID:]

Further company coverage: RRKA.NS

(([email protected];))

Adds details on IPO in paragraphs 4 and 6, analyst comment in paragraph 5

By Rama Venkat

BENGALURU, Oct 26 (Reuters) - Shares of IRM Energy IRME.NS fell as much as 10.9% in trading debut on Thursday, valuing the Indian natural gas distributor at 18.48 billion rupees ($222.03 million) in a weak market.

The stock fell to a low of 450 rupees in early trade after opening at 477.25 rupees. Its initial public offer (IPO) price was at 505 rupees.

The benchmark Nifty 50 .NSEI was down 1.3%, while the more domestically-focused mid-cap .NIFMDCP100 and small-cap .NIFSMCP100 stocks declined more than 2% each. .BO

Investors bid for about 206.3 million IRM Energy shares by the final day of subscription, 27.05 times more than the 7.6 million shares on offer, exchange data showed.

"The IPO was well-received by investors and oversubscribed. However, the current market condition could be a reason behind a poor listing," said Shivani Nyati, head of wealth at Swastika Investmart.

The company, with a diversified customer portfolio and distribution network, is well-positioned to benefit from the growing demand for natural gas in India, Nyati added.

The IPO of IRM Energy, a group company of Cadila Pharmaceuticals, comprised of fresh issue of 10.8 million shares worth 5.44 billion rupees, according to the prospectus.

The company plans to use about 3 billion rupees of proceeds from the IPO to fund the development of the gas distribution network in Namakkal and Tiruchirappalli in the southern state of Tamil Nadu.

The Ahmedabad-based company builds, operates and expands the gas distribution network for industrial, domestic and automobile customers.

HDFC Bank and BOB Capital Markets were book-running lead managers for the IPO.

So far this year, 173 Indian companies have gone public, raising $4.46 billion, compared with 115 companies that raised $6.06 billion in the same period last year, according to LSEG data.

($1 = 83.2325 Indian rupees)

(Reporting by Rama Venkat in Bengaluru;Editing by Nivedita Bhattacharjee and Eileen Soreng)

(([email protected]; https://twitter.com/ramavenkat0607; +91 8095218099;))

BENGALURU, Oct 3 (Reuters) - Shares of JSW Infrastructure JSWN.NS, India's No.2 commercial port operator, jumped 20.17% in pre-open trade on Tuesday, valuing the company at 300.30 billion rupees ($3.61 billion) and setting it on course to join a host of other successful domestic debutantes.

The stock was at 143 rupees in pre-open trade, compared with its initial public offer (IPO) price of 119 rupees.

JSW Infra is part of the billionaire Sajjan Jindal-led JSW Group and is the first business of the steel-to-software conglomerate to go public since JSW Energy JSWE.NS in 2010.

The company raised 28 billion rupees by selling fresh shares. JSW Group did not sell any shares.

The company is set to follow a host of successful debutantes in the past few months -- ranging from cable maker RR Kabel RRKA.NS to Concord Biotech CONB.NS -- helped by robust investor appetite that has also powered the blue-chip stock market index to a record high.

So far this year, 227 Indian companies have gone public, raising $6.62 billion, compared with 172 companies that raised $10.53 billion in the same period last year, according to LSEG data.

JSW Infra's profit more than doubled to 7.50 billion rupees in fiscal 2023, while its revenue jumped about 41% to 31.95 billion rupees, according to its IPO prospectus.

The company plans to use the IPO proceeds to fund expansion projects and repay debt, which was 22.16 billion rupees as of March 31.

JSW Infra aims to nearly double its operational capacity to 300 million tonnes per annum (MTPA) by 2030, but that would still trail Adani Ports's APSE.NS current capacity of about 558 MMTPA.

Adani Ports, a listed unit of billionaire Gautam Adani's namesake conglomerate, has a market value of about 1.78 trillion rupees.

Axis Capital, Credit Suisse Securities (India) and Kotak Mahindra Capital were among the lead managers for the IPO.

($1 = 83.1840 Indian rupees)

(Reporting by Rama Venkat in Bengaluru; Editing by Savio D'Souza)

(([email protected]; https://twitter.com/ramavenkat0607; +91 8095218099;))

BENGALURU, Sept 20 (Reuters) - Indian wires and cable maker RR Kabel RRKA.NS debuted at 1,180 rupees in pre-open trade on Wednesday, up 14% compared with the initial public offer price of 1,035 rupees.

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607; +91 8095218099;))

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)

(([email protected]; +91 7982114624))

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;))

NEW DELHI, May 7 (Reuters) - Indian wire and cable maker RR Kabel Ltd., backed by private equity firm TPG, filed for an initial public offering on Sunday, seeking to raise up to $27.53 million, according to its draft prospectus filed to India's market regulator and seen by Reuters.

RR Kabel, India's fifth largest branded wires and cable manufacturer, plans to use funds raised through the IPO to repay or prepay borrowings, in part or in full, from banks and financial institutions, according to the prospectus.

It did not say what percentage of its equity it planned to float or on which exchange.

TPG Asia VII SF Pte Ltd, a U.S.-based private equity firm, holds a 20.99% stake in RR Kabel and will sell some of its stake in the IPO, the prospectus shows.

RR Kabel's business is primarily business-to-consumer sales of wires and cables products.

($1 = 81.7200 Indian rupees)

(Reporting by M. Sriram and Shivangi Acharya; Editing by Susan Fenton)

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