Polycab, a major player in the cables and wires sector, has recently revealed in a regulatory filing that it was the victim of a ransomware attack on March 17, 2024. The cyber-security attack has specifically targeted and infiltrated the company’s IT infrastructure.
Nonetheless, Polycab has stated to all its stakeholders that its core systems and operations have not been affected, to which the shares surged nearly 3% on March 21.
The company has further added that its systems are running, and all if its factories are operating smoothly.
A statement in the regulatory filing read, “This is to inform about a cyber-security incident that occurred on 17th March 2024, wherein our company’s IT infrastructure was targeted by a ransomware attack. However, the incident has not impacted the core systems and operations of the company.”
Polycab further specified that its technical team and external cybersecurity specialists are poring over the incident to prevent any potential damage from occurring.
Polycab shares, on the other hand, were above, up by 3.81 percent at ₹4,925.00, as of 1:50 pm.
