Polycab India shares hit 5% upper circuit ahead of board meet on Saturday

In the past seven trading days, the stock has fallen 9 per cent, thus underperforming the S&P BSE Sensex which rose 3.3 per cent

Shares of Polycab India were locked in 5 per cent upper circuit at Rs 725 on the BSE on Thursday ahead of Saturday's board meeting to consider and approve the proposal for investment / acquisition of shares.

Till 11:36 am, a combined 134,000 equity shares had changed hands on the counter and there were pending buy orders for around 40,000 shares on the BSE and NSE so far.

“A meeting of the board of directors of the Company is scheduled to be held on Saturday, May 2, 2020, to consider and approve the proposal for investment / acquisition