Polycab India rises after Jefferies raises target price on strong order book
BUZZ-Polycab India rises after Jefferies raises target price on strong order book ** Shares of Polycab India POLC.NS rise 3.68% to 9945.02 rupees; on track for highest pct rise since May 14, if gains hold
** Jefferies reiterates "buy" and raises TP to 10,920 rupees from 9,770 rupees, citing market share gains, strong order book
** Says cables and wires market share has risen to 30%-31% in FY26 from ~18% in FY20, while exports, data centres and housing provide additional growth avenues
** Expects revenue and earnings per share to grow at a compound annual rate of ~20% and 22%, respectively, over FY26-FY29
** POLC rated "buy" on average by 31 analysts, median PT at 9478.50 rupees -LSEG compiled data
** YTD stock up 30.5%
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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