Neutral impactCorporate Action
Polycab shares slide 17% in 3 months amid Ultravolt shock, but Jefferies sees 33% upside. What’s behind the bullish view?
Economic Times 1 hr ago·22 Sept 2026, 4:25 am
Polycab India's stock has dropped nearly 17% from its recent high, driven largely by the entry of UltraTech Cement into the wires and cables market. This new competition has raised concerns among investors about pricing pressure and market share, leading to a sharp correction in the stock price.
Despite this recent volatility, Jefferies has maintained a 'Buy' rating on the stock, setting a target price of Rs 11,100. The brokerage firm points to Polycab's strong distribution network and the overall growth in demand for electrical products as key reasons to remain bullish on the company's long-term prospects.
Investors should focus on how Polycab navigates this competitive landscape. Key factors to watch include the company's ability to defend its market position and whether it can sustain its volume growth in the face of new entrants.
Key takeaways
- Category: Corporate Action.
- Assessed as a significant, market-relevant update.
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