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The Economic Times
The Economic Times
Nikhil Agarwal

Polycab soars 6% as brokerages hike target prices up to Rs 10,500 after Q4

Polycab Citi Polycab India FMEG Jefferies

Polycab India shares surged 6% to Rs 8,938.70 on BSE on Thursday morning after the wires and cables maker delivered a quarter that beat street estimates on nearly every metric, prompting a flurry of target price upgrades from brokerages, with Citi setting the highest bar at Rs 10,500.

The rally follows Polycab's Q4 consolidated revenue rising 27% year-on-year (YoY), while EBITDA grew 13% YoY. The numbers impressed analysts as they came despite geopolitical disruptions, a March demand slowdown, and channel destocking amid raw material volatility.

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