Polycab India Ltd share Price Today

For the December series, the Nifty has remained in a range so far whereas the Bank Nifty has managed to hit a new lifetime high and has outperformed. However, the volatility continued to decline and despite profit booking in recent days, no major spike in IVs was observed, which is a positive sign.

 

From a seasonality point of view, December has been largely positive for Nifty. In last 20 years, December has seen positive close on 15 occasions

Despite the Nifty struggling due to higher than usual writing activity in Calls, the Bank Nifty managed to make a new lifetime high supported by fresh long OI blocks and decent volumes. PSU and midcap banking stocks remained in focus whereas apart from Kotak Mahindra Bank, most leaders contributed or supported the index at different levels.

 

We believe the Bank Nifty is well placed to surpass 44000 on upsides. Since the index moved above 42500, Put writing activity is moving higher from a weekly perspective. For the coming week, major chunk of writing is placed at 43000 strike, which remains the intermediate support.

Electrical Equipment company Polycab India announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

• Revenue at Rs 55,919 million; up 29% YoY
• EBITDA at Rs 7,615 million; up 26% YoY
• PAT at Rs 5,535 million; up 29% YoY

FY24 Financial Highlights:

• Revenue at Rs 1,80,394 million; up 28% YoY
• EBITDA at Rs 24,918 million; up 35% YoY
• PAT at Rs 18,029 million; up 41% YoY

Commenting on the performance, Inder T. Jaisinghani, Chairman and Managing Director, Polycab India Limited, said: “The year gone by has been truly exceptional for our Company, marked by remarkable achievements fuelled by robust demand momentum. This resulted in the Company achieving its highest-ever revenues and profitability in its history. This outstanding performance is a direct result of our steadfast focus over the years on key areas such as expanding our distribution network, enhancing manufacturing capabilities, and striving for operational and organizational excellence.

As the country experiences an infrastructure upcycle, Polycab remains committed to its role in nation-building. We are dedicated to leveraging our expertise and resources to contribute to the development of vital infrastructure projects. Our commitment extends to product innovation, ensuring that we deliver superior-quality solutions across diverse sectors and meeting the evolving needs of our customers.”

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