The brokerage has reiterated 'Buy' on Polycab India (target ₹9,110) and KEI Industries (target ₹4,960) and a 'Neutral' rating on Havells India (target ₹1,640) and R R Kabel (target ₹ 1,470)
Nuvama highlighted that Polycab posted revenue, Ebitda, and APAT growth of 18%, 62%, and 51% Y-o-Y in Q2, respectively, noting that the base in Q2FY25 was low due to volatile copper prices.
Polycab has established itself as a clear leader in the domestic organised C&W market with ~26-27 per cent share, up from ~18-19 per cent in FY20.
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Shares of Polycab India fell 1.96% to close at ₹7,385 apiece on the National Stock Exchange (NSE)
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Looking ahead, the management sees strong tailwinds from infrastructure spending, improving private sector investment, and momentum in the real estate sector.
Polycab and Jio Financial Services are among the top stocks to buy today, says Chandan Taparia
Polycab's Q1 FY26 revenue and profit grew 26% and 50% YoY, driven by strong performance in its C&W and FMEG segments. However, the stock's rich valuation factors in its near-term prospects
Polycab India stock was trading 2 per cent higher at ₹7,024 after the company reported a strong set of earnings for the quarter ended June 2025
Rising trend of energy consumption coupled with ongoing urbanisation and robust expansion of data centres and electric vehicles (EVs), the future growth trajectory of the C&W sector looks promising