Buy Polycab India: IIFL Securities's Target Price Rs 7430
IIFL Securities has given a 'buy' rating to Polycab India with a target price of Rs 7430, representing an upside potential of 1.7% from the current market price of Rs 7302.9. The brokerage firm believes that Polycab India is well-positioned to benefit from the growth in the electrical segment in India. The company's strong product portfolio, distribution network, and cost optimization initiatives are expected to drive revenue and earnings growth in the future.
About Polycab India:
Polycab India Ltd. is a leading manufacturer of wires and cables in India. It is part of the Rs. 2,770 crore DS Group. The company offers a wide range of products, including power cables, control cables, instrumentation cables, and flexible cables. Polycab is also a major supplier of electrical accessories, such as switches, sockets, and circuit protection devices. The company has a strong distribution network with over 3,500 dealers and distributors across India. Polycab is committed to quality and innovation, and has received several awards and recognitions for its products and services.
52 Week Price Trend:
Polycab India, a leading manufacturer of electrical cables and wires, has witnessed a substantial rise in its stock price, reaching a 52-week high of Rs 5733. The company's current market price (CMP) stands at Rs 7302.9, indicating a significant surge of over 27% from its 52-week high. However, Polycab's stock has also experienced volatility, with a 52-week low of Rs 2753.9. The company's strong financial performance, driven by robust demand for electrical goods, has contributed to the recent price appreciation. Investors should carefully monitor market conditions and the company's future prospects before making investment decisions.
Stratzy's MOST Analysis:
POLYCAB's AAA rating from Stratzy's MOST framework indicates that the company has a low fundamental risk. This assessment is based on a comprehensive evaluation of the company's management team, growth prospects, financial health, and industry trends. POLYCAB's strong performance in these areas suggests that it is well-positioned for continued success in the future.
Company's Fundamentals:
Polycab India (NSE:POLYCAB) is a company listed on the National Stock Exchange of India (NSE). Its key financial metrics are: - Stock PE (Price-to-Earnings ratio): 43.26: This indicates that the current market price of the stock is 43.26 times its annual earnings per share. - PB Ratio (Price-to-Book ratio): 9.99: This suggests that the current market price of the stock is 9.99 times its book value per share. - Dividend Yield: 0.42%: This represents the annual dividend paid per share as a percentage of the current market price of the stock.
Fundamental and Technical information provided in this blog were last updated on 03 Oct, 2024
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