Polycab India declined 3.13% to Rs 6771 following large block deal took place in earlier today, 28 June 2024.
On the BSE 10.66 lakh shares traded in the counter as against an average trading volume 14,000 shares traded in the past 2 weeks.On the NSE 81.83 lakh shares traded in the counter as against an average trading volume 5,11,041 shares traded in the past three months.
About 40.5 lakh shares or 2.74% stake changed hands at price of Rs 6,708 per share in the company. The names of the buyers and sellers were not ascertained immediately. The estimated transaction value is to be Rs 2,716.5 crore.
As on March 2024, promoters of Polycab held a 65.24% stake in the company.
Polycab India is the largest manufacturer of Wires and Cables in India and fast growing player in the Fast Moving Electrical Goods (FMEG) space. The Group is also in the business of Engineering, Procurement and Construction (EPC) projects.
The company reported 28.46% increase in consolidated net profit to Rs 546 crore on 29.33% rise to revenue from operations to Rs 5,591.89 crore in Q4 FY24 over Q4 FY23.
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