Tongia said there is robust demand in the wires and cables segment as India is a consumption powerhouse and the demand from various sectors like infrastructure, real estate, and industries will benefit Polycab.

Polycab of India stock has given a return of 63.05 percent over the last six months.

YES Securities recommended Neutral rating on Polycab India with a target price of Rs 4505 in its research report dated July 19, 2023.

Sharekhan is bullish on Polycab India has recommended buy rating on the stock with a target price of Rs 4970 in its research report dated July 19, 2023.

Religare Retail Research recommended hold rating on Polycab India with a target price of Rs 4612 in its research report dated July 20 2023.

Prabhudas Lilladher recommended accumulate rating on Polycab India with a target price of Rs 4760 in its research report dated July 19, 2023.

ICICI Securities recommended hold rating on Polycab India with a target price of Rs 4100 in its research report dated July 19, 2023.

The brokerage house has maintained buy rating on the stock and increased its target price by 17 percent to Rs 4835 a share.

The firm reported net profit of Rs 402.81 crore in the June quarter against Rs 222.55 crore a year ago. Despite facing lower commodity prices, the company's revenue for the quarter surged by 42 percent year-on-year.

Net Sales are expected to increase by 12.9 percent Y-o-Y (down 28.6 percent Q-o-Q) to Rs. 3,088.7 crore, according to Nirmal Bang.

Jefferies is bullish on the stock with a base case target price of Rs 4,270. It expects cables and wires segment revenue to post a 15 percent CAGR over FY23-26e, primarily led by capex revival, infrastructure development and housing sector upcycle