Morgan Stanley has reaffirmed its ‘Overweight’ rating on Polycab with a target price of ₹7,537, indicating an upside potential of 23.0% from the current market price of ₹6,125.00.
The brokerage noted a disappointing implied domestic cable and wire volume, with domestic volume growth in the single-digit range. However, cable demand remained healthy, albeit weaker in copper. The report also emphasized margin improvements driven by the wire business and exports, which continue to bolster the company’s performance.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
