News for Polycab India Limited (POLYCAB.BO)

Achin Goel, PMS Fund Manager at Bonanza Group, says domestic consumption stocks can mitigate potential impacts of tariffs

Indian equity markets conclude a tumultuous trading session with negligible gains, reflecting investor caution.

Benchmark BSE Sensex and Nifty declined amidst selling in key stocks like HDFC Bank and Reliance Industries. RIL fell 2%, Polycab gained 3.4%, and Pfizer India dropped 9%. Analysts suggest monitoring Polycab around Rs 4,500, RIL requiring a move above Rs 1,200 to signal recovery, and Angel One demonstrating persistent selling pressure with a support around Rs 1,750.

The NSE Nifty index closed 5.41 points down at 22119.3

The NSE Nifty index was trading 78.41 points down at 22046.3

Jefferies has rationalized Polycab's target Price-to-Earnings (PE) multiple by 15%, bringing it to 32x now. This adjustment comes despite the brokerage acknowledging Polycab's strong market leadership with a 25% share of the organized market.

Vishal Mega Mart Ltd., Polycab India Ltd., and BSE Ltd. are among the top stocks on brokerages' radar on Monday, along with other wire and cable stocks. Brokerages have also done a deep dive on India's GDP data with the macro steadily recovering. The gross domestic product grew 6.2% over a year earlier in the October-December quarter.

The NSE Nifty index closed 420.35 points down at 22124.7

The NSE Nifty index was trading 298.5 points down at 22246.55

Polycab India share price: The recovery followed a sharp selloff on Thursday, triggered by HSBC cutting target prices for major wires and cables companies by as much as 23%. The downgrade was attributed to UltraTech's Rs 1,800 crore investment, which was seen as an

The NSE Nifty index closed 2.5 points down at 22545.05

Indian benchmark indices Sensex and Nifty ended flat on Thursday. The Nifty traded within a narrow 100-point range as caution prevailed among investors on the monthly expiry of Nifty 50's derivatives contracts. Broader sentiment remained subdued and directionless amid mixed global cues.

The shares of leading wires and cables manufacturers Polycab India, RR Kabel, KEI Industries, Havells India, and Finolex Cables plunged on Tuesday after Aditya Birla Group company UltraTech Cement announced its entry into the industry.

In the Nifty pack, 21 stocks were trading in the green, while 29 stocks were trading in the red.

In January, mutual funds bought stocks worth Rs 575 billion in India's secondary market, with key additions in Axis Bank, HDFC Bank, and ICICI Bank. Major reductions were seen in Reliance Industries, ITC, and Bharat Electronics. Notable entries included Adani Wilmar in mid-cap and AXISCADES Technologies in small-cap. Mutual funds actively managed their portfolios, focusing on large, mid, and small-cap stocks.

Bears were in full control of the D-Street on Monday as widespread selling led the benchmark indices to their second successive negative closing. IT, pharma and energy stocks were the major spoilers. While the S&P BSE Sensex settled at 75,293.38, down by 897.08 points or 1.18%, the broader Nifty closed at 22,829.15, lower by 263.05 points or 1.14%.Commenting on the day's action, Rupak De, Senior Technical Analyst at LKP Securities said that the pessimism across the Indian equity market was at its peak.

Polycab India Limited exceeds revenue goals, achieving ₹21,000 crore in 2024, with strong growth in all business segments.

Polycab India Q3 earnings: The brokerage said Polycab continues to be its top pick in the consumer durables sector, supported by the normalization of margins in the wires segment.

The NSE Nifty index closed 130.7 points up at 23155.35