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Polycab India share hits all-time high post Q4 earnings

Polycab India share touched a record high of Rs 1,652.6 rising 7.09% against previous close of Rs 1,543 on BSE

twitter-logoBusinessToday.In | May 14, 2021 | Updated 17:01 IST
Polycab India share hits all-time high post Q4 earnings
Polycab India share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Polycab India share hit all-time high today after the leading manufacturer of wires and cables reported a 32 per cent rise in Q4 net profit. The large cap stock touched a record high of Rs 1,652.6 rising 7.09% against previous close of Rs 1,543 on BSE.

Market cap of the firm rose to Rs 23,895 crore on BSE. The stock opened with a gain of 3.6% at Rs 1,598  today.

It hit an intra day low of Rs 1,559.

Polycab India share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The share has gained 126.32% in one year and gained 54.67% since the beginning of this year. In a month, the stock has climbed 18.29%.

Later, the share closed 3.84% higher at Rs 1,602 on BSE.

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Polycab reported Q4 profit at Rs 283.2 crore on higher revenue. Consolidated revenue grew faster at 43 per cent to Rs 3,037.4 crore during the period.

For the full-year, the firm reported a net profit of Rs 885.9 crore, up 16 per cent over FY20 on a revenue of Rs 8,926.5 crore, which inched up 1 per cent from the previous year.

Wires and cables business grew 35 per cent to Rs 2,487.5 crore in Q4 from Rs 1,843.4 crore in Q4 of FY20 led by healthy pick-up in infra and industrial project activities, improving consumer sentiment, and higher sales realisation.

Meanwhile,Sensex ended 41 points higher at 48,732 and Nifty lost 18 points to 14,677.

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