The market witnessed a more than 2 percent dip in RR Kabel stock on November 29, following reports of income-tax searches conducted at the company’s offices nationwide. Despite a notable 20 percent surge in the stock over the past month, outperforming the Sensex’s 4 percent rise, the recent turn of events has impacted the wire and cable manufacturer’s market standing.
RR Kabel, a recently listed entity, specializes in the production of wires and cables extensively used in panels, cabinets, machines, and various electrical applications. The company’s diverse product range includes internal wirings featuring switchgears, relays, controllers, and equipment for hazardous environments.
With five operational facilities spread across strategic locations such as Waghodia and Silvassa in Gujarat, Bengaluru, Roorkee in Uttarakhand, and Gagret in Himachal Pradesh, RR Kabel has established itself as a key player in the industry. As of 11:38 am, the company’s shares were trading 1.85% lower at ₹1,628.75, reflecting the immediate impact of the income-tax raids on its market performance.
