World · India Bureau
Polycab India gains analyst backing after strong Q2 earnings beat
Polycab India has retained positive ratings from major brokerages following better-than-expected September quarter results. Citi has raised its target price to Rs 11,600, while Jefferies and JPMorgan have maintained their optimistic outlooks on the wiring solutions manufacturer.
LSN India ·
Major global investment banks have affirmed their confidence in Polycab India following the company's robust second-quarter performance, which exceeded market expectations. The positive reception from analysts reflects strong operational execution and growth momentum in India's infrastructure and electrical products sector.
Citi raised its price target for the company to Rs 11,600, signalling enhanced confidence in Polycab's earnings trajectory and valuation. Jefferies and JPMorgan have maintained their buy and overweight ratings respectively, indicating sustained belief in the company's growth prospects and market positioning.
The Q2 earnings beat demonstrates Polycab's ability to capitalize on rising demand across its portfolio of wiring products, cables, and related electrical solutions. The company has benefited from infrastructure expansion initiatives and increased electrification projects across India, which have driven strong volume growth and improved margins.
Analysts cite Polycab's market leadership, operational efficiency, and strong balance sheet as key strengths supporting their positive outlook. The company's consistent execution and strategic focus on high-margin products continue to attract institutional investor interest.