Morgan Stanley analyst Angel Castillo has maintained an Equal-Weight rating on Kennametal and lowered the price target to $31 from $36. This revision reflects a more conservative view on the stock's near-term trajectory compared to previous estimates.

The adjustment follows a separate move by JP Morgan, where analyst Tami Zakria maintained an Underweight rating and reduced the target to $34 from $40. The cumulative downward revisions by major brokerage firms signal a cautious sentiment regarding the company's performance potential relative to the broader market.

Rating and Target Details

The following table summarizes the recent analyst actions on Kennametal:

The Equal-Weight rating suggests the stock is expected to perform in line with the sector, while the Underweight rating indicates an expectation of underperformance. These targets serve as key reference points for investors assessing the NYSE-listed shares.

Kennametal India Limited shareholders have approved material related party transactions with Kennametal Inc., USA, and Kennametal Europe GmbH, Switzerland, through a postal ballot process that concluded on June 21, 2026. The resolutions were passed with a requisite majority, receiving 99.97% of votes in favour, as disclosed in a filing to BSE under Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The postal ballot notice was issued on May 7, 2026, with e-voting commencing on May 23, 2026, at 9:00 AM and concluding on June 21, 2026, at 5:00 PM. A total of 82 members participated in the remote e-voting process, casting votes on 3,080,749 shares. The scrutinizer, Vijayakrishna KT, Company Secretary in Whole-Time Practice, verified the voting process based on the report provided by Central Depository Services (India) Limited (CDSL).

Voting Results Summary

Both resolutions sought approval for ordinary resolutions regarding material related party transactions. The promoter and promoter group did not participate in the voting. Public institutions and non-institutional shareholders cast the majority of the votes.

Detailed Voting Breakdown

The voting data indicates that public institutions held 3,079,398 shares and cast 3,064,045 votes in favour of both resolutions. Public non-institutions held 2,415,162 shares, with 15,838 votes in favour and 866 votes against. The total number of shareholders as of the cut-off date of May 8, 2026, was 11,290.

Pursuant to Section 108 of the Companies Act, 2013, and Rule 20 of the Companies (Management and Administration) Rules, 2014, the detailed voting results have been made available on the company's website. The scrutinizer confirmed that the communication of assent or dissent was conducted solely through the remote e-voting system, in accordance with Ministry of Corporate Affairs circulars.