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Buy Polycab India: target of Rs 1200: Sharekhan

Sharekhan is bullish on Polycab India has recommended buy rating on the stock with a target price of Rs 1200 in its research report dated December 22, 2020.

December 23, 2020 / 01:14 PM IST
 
 
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Sharekhan's research report on Polycab India


Strong traction seen in new launches and sales in pan-India residential market is expected to drive the company’s housing wires and FMEG segments. Multiple price hike undertaken by the company led by a rise in copper prices to drive C&W revenues along with underlying healthy demand. Copper volatility is a natural hedge unaffecting margin profile. The company to deepen its presence in semi-urban and rural markets to drive FMEG business. Exports to remain focus area to aid C&W revenue growth.



Outlook


We retain Buy on Polycab India Limited (Polycab) with a revised PT of Rs. 1,200, given the improvement in demand in underlying user-industries.


For all recommendations report, click here


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Broker Research
first published: Dec 23, 2020 01:14 pm

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