US-Iran war effect: Polycab shares slip 18% from peak in 10 days; more downside likely?

Shares of Polycab India have slipped 18% from their record high in 10 sessions. The FMEG stock hit a record high of Rs 8724.35 on February 27, 2026. The stock tumbled by 18.20% or Rs 1588 in the next ten sessions as the US-Iran war roiled global markets including India. 

The cables and wires stock is in a downtrend in terms of simple moving averages. Polycab India shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 200 day moving averages. While investor sentiment is cautious around the stock, brokerage YES Securities believes that the stock can reach a target of Rs 8,775 in a year. That's an upside of 22% from the current levels. 

The brokerage says while the C&W segment remains a key revenue driver, supported by strong demand from infrastructure, real estate, and power T&D, the company is also expanding its FMEG portfolio including fans, lighting, switches, and solar products to diversify growth and leverage its wide distribution network. 

"Structural tailwinds such as renewable energy, data centres, housing demand, and the shift from unorganised to organised players continue to support industry growth," said Yes Securities. 

Rising exports and strong operational capabilities backed by a healthy balance sheet provide further growth visibility for the industry leader, according to the brokerage. 

In the current session, the FMEG stock was trading 0.27% lower at Rs 7109 against the previous close of Rs 7128. 

Total 981 shares of the firm changed hands amounting to a turnover of Rs 69.83 lakh. Market cap of the firm stood at Rs 1.06 lakh crore in the current session.  

The FMEG stock is neither overbought nor oversold on charts, indicates its RSI of 34.7.

However, the multibagger stock has gained 56.56% from 52-week low of Rs 4574.55 on April 7, 2025. 

Polycab Q3 earnings 

In the previous quarter, net profit rose 35% to Rs 620 crore against Rs 460 crore in the corresponding quarter of the previous fiscal. Revenue in Q3 climbed 46% to Rs 7640 crore from Rs 5230 last year. Operating EBITDA rose 34.17% to Rs 966 crore against Rs 720 crore on  a year-over-year basis. However, PAT margins fell to 12.70% from 13.80% a year ago. 

Polycab India Limited is the country's largest manufacturer of wires and cables. The company's business operations span across India through 23 manufacturing facilities, 15 plus offices and 25 plus warehouses.