If you look at Quarterly chart, We could see a pattern that after an year consolidation, 100% rise has happened. Could we expect Dec '23 - Dec '24 as consolidation period. Historically, 1st quarter of polycab hasn't performed except last year which was a surprise. Let's see what happens this year. Higher low hasn't formed yet in weekly chart.
Polycab stellar performer among wires & cables. Polycab's guidance value is to achieve 20K Cr revenue(top-line) sales by 2026. And it appears they'll achieve ahead of timeline. Company expects volume growth to continue in the second half as well. As of 2023, 14K Cr sales.
Jefferies adjusted its price target for Polycab India from INR4,835 to INR6,220 and...
As can be seen the stock is going strongly moving upwards and is going fast. Advisable to buy on dips. Look for consolidation moves sideways for a couple of weeks to add a bigger position.
