Jefferies has reiterated its buy rating on Polycab, setting a target price of ₹8,315, indicating a 20% upside from the current market price of ₹6,915. Polycab has recently emerged as the lowest bidder for a significant BSNL order, which is targeted at the domestic market. This potential order win could provide a boost to Polycab’s Cables & Wires (C&W) sales.
Jefferies projects a 21% compound annual growth rate (CAGR) for Polycab’s revenue over FY24-27. While growth prospects look robust, the brokerage highlighted that margin performance will be a key factor to monitor going forward.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult with a financial advisor before making any investment decisions.
