Polycab India, KEI Industries, Hitachi Energy: Cable & wire stocks at 52-week highs; what investors should do?

Shares of the cable, wire, and heavy electrical space, such as Polycab India Ltd, Hitachi Energy India Ltd and KEI Industries Ltd, have been on a bull run for the past few sessions. At last check on Thursday, shares of Polycab rose 1.09% to Rs 8,441.40 after touching its 52-week high of Rs 8,478.45 in early trade, while KEI shares also brushed its own 52-week peak of Rs 4,997.45 on the BSE. 

Hitachi Energy joined the rally, gaining as much as 1.75% to hit a new high of Rs 25,433.45.

Polycab and Hitachi Energy have surged higher in eight of the past nine trading sessions, including today's trading day. Meanwhile, KEI Industries has posted gains in seven of those nine days.

Here is what technical analysts have to say about the road ahead 

Polycab India

The stock has shattered a four-month price consolidation to register a fresh all-time high. Rajani called the counter a clear outperformer in the consumer electrical segment that is likely to carry forward its uptrend, said Vinay Rajani, CMT and Senior Technical & Derivative Analyst at HDFC Securities.

Adding to it, Om Ghawalkar, Market Analyst at Share.Market (PhonePe Wealth), highlighted that the stock signalled a major bullish phase by breaking out of a "Cup and Handle pattern, backed by significant volume accumulation". 

“While the stock is currently exploring all-time highs—a move that warrants a target of approximately Rs 9,000—investors should remain disciplined with risk management,” Ghawalkar said.

To protect gains, Ghawalkar recommended maintaining a trailing stop loss tied to the 50-day moving average, alongside a firm structural support established at Rs 7,500.

“Polycab is trading near its 52-week high, confirming a strong primary uptrend supported by higher highs and higher lows. The prior breakout zone of Rs 7,900–8,000 now acts as a key support, while immediate resistance is placed near Rs 8,450–8,500,” said Riyank Arora, AVP (Derivatives & HNI) at Octanom Technologies. 

Arora said short-term consolidations or shallow dips towards rising averages should be viewed as buy-on-dips opportunities, unless the stock falls below Rs 7,750.

KEI Industries

According to Rajani, after enduring a running correction in January 2026, the stock has resumed its primary uptrend and is on the verge of printing new all-time highs above the 5,040 mark. 
“Investors should stick to the stocks which are outperforming and carry higher relative strength, like KEI Industries. The band of 4600-4650 is a strong support zone for the stock,” Rajani said.

Ghawalkar said KEI’s ascent to strong sectoral tailwinds and a breakout supported by massive volume spikes. While the stock faces an immediate hurdle at Rs 5,000, a decisive breach could clear the path toward a new high of Rs 5,500.

Arora said that KEI has decisively reclaimed the Rs 4,700 to Rs 4,800 territory, which now acts as immediate support. Arora noted a close below Rs 4,500 would be the first sign of weakness, a level Ghawalkar also identifies as a reliable safety net for the current uptrend.

Hitachi Energy

“The stock is trading at its all-time high and expected to continue with its ongoing trend. Important support levels are placed at 23700 and 22800,” Rajani said

Ghawalkar noted that the stock's relative strength index (RSI) is entering overbought territory. He suggested the stock might see a healthy consolidation phase between its resistance of Rs 24,700 to Rs 25,000 and its EMA support at Rs 23,250 before the next leg up.

“The stock is extended but remains well supported near ₹23,800–24,000, which is critical for trend stability,” Arora said. 

A sustained breakout above Rs 25,200 could trigger further upside, but a breach below Rs 23,200 might invite a deeper correction, Arora added.