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The Economic Times

Business

Debaroti Adhikary

Polycab shares slide 17% in 3 months amid Ultravolt shock, but Jefferies sees 33% upside. What’s behind the bullish view?

Polycab Jefferies Ultravolt Ultratech Debaroti Adhikary copper SEBI

Wires and cable stocks recently saw a sharp downturn after UltraTech entered the segment, with Polycab being one of the top losers and falling 17% from its June peak, but Jefferies remains bullish on the stock and sees 33% upside potential.

The international brokerage hosted Polycab’s management at the Jefferies India Forum 2026, following which it maintained its 'Buy' call and a target price of Rs 11,100 apiece, implying around 33% upside potential from the stock’s previous closing price of Rs 8,369.50 apiece.

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