Polycab to diversify to IoT based customer solutions says CFO Gandharv Tongia
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 India rises 6% after Q1FY24 net profit beats estimates
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.
Polycab India gains 2% as Jefferies reiterates 'buy' stance
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