Polycab India

The deal's tenure includes 3 years for construction and 10 years for maintenance contracts at 5.5 per cent per annum of capex for the first 5 years and 6.5 per cent per annum for the next 5 years

Nuvama Alternative & Quantitative Research in its early predictions on AMFI semi-annual categorization expects RVNL, Polycab India and 5 other stocks to be upgraded to large-caps.

Polycab India share surpassed its previous high of Rs 7,330 touched on June 25, 2024.

The brokerage, however, has maintained its 'Buy' rating on the scrip.

UBS is bullish on Polycab India on the back of better-than-expected domestic volume growth, domestic market share gains, and a distribution-led export business model

Most of the stocks are now seen testing the 20-DMA; trade along this key moving average is likely to dictate the near-term trend for electric wire-related stocks; suggest charts.

These 10 companies had fixed July 09 as the record date for a dividend payout of up to Rs 30 per share.

Shares of Polycab India dropped 5.3 per cent at Rs 6,616 on the NSE in Friday's intraday deals

Polycab share price: The management believes the FMEG industry is poised to accelerate its growth in the FY 2024- 25, driven by steady urban consumption and improved prospects for rural demand.

At 12:02 PM; Polycab India was trading 4% higher at Rs 6,736.80 on the BSE

Cables and wires companies have benefited from a demand surge from the real estate and infrastructure sectors, further aided by the government as it tries to boost the economy

The stock of the cables and wires (C&W) and fast moving electrical goods (FMEG) company has recovered 52 per cent from its low of Rs 3,812.35 hit on January 11, 2024

Consumption of soda, ice creams and dairy products typically jumps sharply during the summer

Consolidated net profit rose to 4.13 billion rupees ($49.7 million) in the three months ended Dec. 31 from 3.58 billion rupees a year earlier

Company refutes allegations; stock may underperform in near term

Financial Services company Capital Group on Thursday sold shares of electrical goods company Polycab India for Rs 337 crore through an open market transaction. US-based Capital Group through its affiliate SmallCap World Fund Inc offloaded shares of Polycab India on the National Stock Exchange (NSE). According to the bulk deal data with the NSE, SmallCap World Fund Inc disposed of 8,51,003 shares of Polycab India. The shares were offloaded at an average price of Rs 3,955.87 apiece, taking the deal value to Rs 336.64 crore. Details of the buyers could not be ascertained. On Thursday, the scrip of Polycab India nosedived 20.50 per cent to close at Rs 3,904.70 per piece on the NSE.

Polycab India, on its part, denied any rumours of tax evasion by the company

The Income Tax department has detected "unaccounted cash sales" of about Rs 1,000 crore after it recently raided the Polycab group, a prominent wires, cables and electrical items manufacturer, the CBDT and official sources said on Wednesday. Unaccounted cash of more than Rs 4 crore was seized and more than 25 bank lockers were put on restraint after the searches were launched against the group on December 22 last year, the Central Board of Direct Taxes (CBDT) said in a statement. It said a total of 50 premises in Mumbai, Pune, Aurangabad and Nashik in Maharashtra, Daman, Halol in Gujarat and Delhi were covered. Some of the authorised distributors of the group were also covered in the searches, the CBDT, which is the administrative body for the Income Tax department, said. The CBDT statement did not name the group but official sources confirmed it to be Polycab India Limited. Polycab India issued a clarification to stock exchanges earlier in the day terming reports of "tax evasion

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The residences and offices of the top management linked to the firm were also being raided, the report added