KOTAK ON RR KABEL ; SELL | TP ₹2,000 (EARLIER ₹1,900)

• Kotak maintains Sell rating on RR Kabel but raises target price to ₹2,000 from ₹1,900. • Company cuts FY27 wires & cables (W&C) volume growth guidance to 14–15% from 18% earlier. • Retains FY27 wires & cables EBIT margin guidance at 9.5%. • Targets operating breakeven in the FMEG business during FY27. • Kotak raises FY27–29 earnings estimates by 7–9%, but flags intensifying competition as a key concern.

R R KABEL LIMITED

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