At 01:59 PM on Friday, the Nifty Midcap 100 and Nifty Smallcap 100 indices were down 0.6 per cent each, as against 0.7 per cent rise in the Nifty 50 index.
Polycab India traded with a loss of 4% on Friday despite reported upbeat Q1 earnings. Analysts at JM Financial maintain a 'Buy', while Equirus assign an 'Add' rating on the stock.
Revenue from operations rose 39% to ₹8,209.73 crore, while wires and cables revenue grew 37.7% and FMEG revenue increased 67.6%
At current price, company is trading at a steep 47 times its FY27 earnings
In the past six months, the market price of RR Kabel zoomed 60%, while Polycab India and KEI soared 41% and 38%, respectively, as against a 9% decline in the BSE Sensex.
Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities expects Polycab India and Coal India to rally further on breakout above the ₹9,800- ₹9,850 and ₹485- ₹490 zones, respectively.
Hindalco, KEI Industries, Polycab, Apollo Hospital, Anand Rathi Wealth, GE Vernova T&D, Manappuram Finance, Navin Flurochemicals, Torrent Pharma and J B Chemicals hit fresh life-time highs on Monday.
Polycab shares are in focus after strong Q4FY26 results. MOFSL and ICICI Securities have raised their share price targets, citing strong demand outlook, market share gains, and robust capex plans
BSE Capital Goods index hit a new high of 79,887.59, up nearly 2% in Thursday's intra-day deal. The index has surged 17% in the past two months.
Q4FY26 company results: Firms including Shree Cements, Godrej Consumer Products, PB Fintech, Blue Star, and Raymond Lifestyle are also to release their January-March earnings today
Elara said the Nifty50 is currently trading at around 17.3 times one-year forward earnings, nearly 7 per cent below its 10-year average of 18.6 times, placing it in a historical 'bounce zone'
Polycab India is facing export disruptions from the Middle East, the highest contributor to its export portfolio, low volume growth, margin pressure and high input costs.
Eicher Motors share price has been in a strong and consistent bullish trend over the past six months, forming a steady higher high and higher low structure on the daily chart
Infrastructure development, housing growth, electrification and the ongoing shift towards organized and compliant products continue to support the demand, said RR Kabel.
Polycab India management expects the strong W&C momentum to sustain in Q4, traditionally the strongest quarter.
Analysts at JM Financial seen strong C&W demand from institutional players; but caution that a correction in copper prices could pose a risk to primary off-take for these companies.
Polycab India share price today: On the bourses, Polycab share price rose up to 3.56 per cent to an intraday high of ₹7,385 per share.
Q3FY26 company results: Firms including Tata Technologies, L&T Finance, JSW Infrastructure, Jindal Saw, and Bajaj Healthcare are also to release their October-December earnings reports today
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.