Emkay Global Financial is bullish on Polycab India has recommended buy rating on the stock with a target price of Rs 3600 in its research report dated May 15, 2023.

Buy Polycab India; target of Rs 3600: Emkay Global Financial

The company beat street expectations and reported a 31 percent YoY growth in net profit at Rs 425 crore. Brokerages remain largely optimistic on the back of strong execution and heathy volume growth.

Polycab India profit rises 31% in Q4: What brokerages are saying?

Given the product portfolio and the size of opportunity, the cable-maker is well placed to manage its growth trajectory and margin profile

Polycab India Q4 FY23: Poised for more outperformance

Prabhudas Lilladher recommended hold rating on Polycab India with a target price of Rs 3249 in its research report dated May 15, 2023.

Hold Polycab India; target of Rs 3249: Prabhudas Lilladher

Polycab India, one of the largest cables and wires maker in the country, is expecting benefits of its distribution realignment to accrue this fiscal onwards with the FMEG vertical expected to turn profitable

Polycab India to invest ₹700 crore in new plant, expects FMEG vertical to be profitable this fiscal

'#FMEG biz was weak due to the rejig we did last year', says Gandharv Tongia of @PolycabIndia. Tells @prashantnair, @_soniashenoy & @Nigel_Dsouza that they are going to launch their own brand in FY24.

#polycabindia #Q4FY23results #Q4FY23earnings #cnbctv18 #businessnews #businessnewstoday #businessnewsinenglish #sharemarkettoday   

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Polycab India's Gandharv Tongia Speaks On Strong Q4FY23 Results & FY24 Outlook | CNBC-TV18

Electrical goods company Polycab India on Friday reported a 31.68 per cent growth in consolidated profit after tax (PAT) during the quarter ending March 31, at Rs 428.41 crore compared to the same period of the previous financial year.

Polycab India consolidated PAT rises 31.68% to Rs 428 crore in Q4

Revenue from operations of the company increased by 8.90 per cent at Rs 4,323.68 crore during the quarter under review compared to Rs 3,969.98 crore in the same period of the previous fiscal.

Polycab India Q4 consolidated PAT up 31.68% at Rs 428.41 crore

Based on the OI percentage, 59 stocks, including Canara Bank, UPL, Abbott India, Sun Pharmaceutical Industries and Polycab India saw a short build-up.

Trade setup for today: Top 15 things to know before the opening bell

Axis Securities recommended stocks such as ICICI Bank, Maruti Suzuki India, State Bank of India, Dalmia Bharat, Federal Bank, Varun Beverages, Ashok Leyland, PNC Infra, ITC, Aarti Drugs, Gland Pharma, Mahindra CIE, Praj Industries, CCL Products (India), Polycab India and Bajaj finance.

‘Neither panic nor exuberance on Dalal Street’: Axis Securities recommends these 16 stocks to buy

Net Sales are expected to increase by 11.4 percent Y-o-Y (up 19 percent Q-o-Q) to Rs. 4,421 crore, according to Prabhudas Lilladher.

Polycab India Q4 PAT seen up 23.6% YoY to Rs. 397.7 cr: Prabhudas Lilladher

Hasn't faired well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is overpriced but is not in the overbought zone

Current price is more than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Polycab India is a manufacturer and seller of wires and cables and fast moving electrical goods. The Company's product line includes electric fans, LED lighting and luminaires, switches and switchgears under the 'POLYCAB' brand