Polycab Share prices got a big hit on 27th February as prices dropped 14% just after opening. This is raising concerns among investors. Also, there is news that UltraTechCement, India’s largest cement manufacturer has announced its foray into the cables and wires segment. They will invest Rs 1800 Crore in this segment and aim to strengthen its presence in construction value by leveraging its manufacturing expertise and customer connections.
Polycab Share Price in Today’s Market
As of 27th Feb 10.49 am Polycab’s Share price is Rss 4948.80. This is a 14.15% drop in price from the opening. Today share prices opened at Rs 5400 which was already lower than the previous close of Rs 5765.60. The current market cap of the company is standing around Rs 74,743 Crore. The upper Circuit Limit is at Rs 5765.65 and the lower circuit limit is at Rs 4612.45.
Company Financials
The company has recently released its Q3 financial reports. Consolidated revenue is at Rs 5226.06 Crore which is 20.41% higher than the previous year’s Rs 4340.47 Crore. Also, net profit has grown by 10.8% to Rs 457.56 Crore. Cables and wire are 80% of the company’s revenue. Polycab is gaming to make 2,00,000 million in revenue in FY25-26.
Recent News about IREDA
Q3 Reports released by the company show a great profit increase. 20.41% year-on-year growth is a positive sentiment. Though recent fall in share prices makes investors skeptical about investment. On the other hand cement manufacturing giant Ultratech has announced its entry into the cables and wires market. The company plans to set up production in Bharuch, Gujrat, and start operations by December 2026.
Recommendation on Buy or Sell
Though Polycab Share prices have seen a dip recently company’s fundamentals remain strong. Also, polycab is one of the major players in the cables and wires segment. So, investors are advised to HOLD for long-term gain. On the other hand, some also suggest buying shares at the dip if have a long-term holding capacity. According to the moneycontrol website,e 67% of 30 analysts suggest buying Polycab Shares.
