India's Finolex Cables rises as Jefferies sees optic-fiber growth opportunity
BUZZ-India's Finolex Cables rises as Jefferies sees optic-fiber growth opportunity ** Electrical cables maker Finolex Cables' shares FNXC.NS rise as much as 4.32% to 1,280 rupees apiece
** Jefferies retains "buy" at a price target of 1,410 rupees, implying a 15% upside
** Brokerage says valuation of FNXC is below peers, despite a 60% year-to-date rally
** Says optic fiber cables presents FNXC with a growth opportunity, with the price of standard optic fiber sharply rising to $17-$18 per km in mid-2026 due to AI led rally from $5-$6 per km in December 2025
** Price appears to be settling at $11-$13/km, although premium fibers, multi-core cables are fetching higher prices, says Jefferies
** Brokerage views FNXC as a play on housing, capex and projects sales/operating profit CAGR at 17%/22% over financial years 2026-2029
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
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Brief: Finolex Cables Ltd Says June-Quarter Consol Net Profit 2.49 Billion Rupees