Espresso Shot of the Day - POLYCAB INDIA LTD up by 8.31 percent

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Espresso Shot of the Day - POLYCAB INDIA LTD up by 8.31 percent

January 13, 2022
Espresso Shot of the Day - POLYCAB INDIA LTD up by 8.31 percent

Polycab India Ltd 2685.95  (+8.31%) BSE – INE455K01017 | Jan 13, 2022


Polycab is one of India’s leading manufacturers of cables and wires and allied products such as uPVC conduits and lugs and glands. They have a range of cables and wires for practically every application. More recently, Polycab has also launched a wide range of consumer electrical products like Fans, Switches, Switchgear, LED lights and Luminaries, Solar Inverters and Pumps. Their products are widely available throughout the country and enjoy a reputation for great quality and superior durability. Polycab is engaged in the business of manufacturing and selling wires and cables and fast-moving electrical goods ‘FMEG’ under the ‘POLYCAB’ brand. Apart from wires and cables, they manufacture and sell FMEG products such as electric fans, LED lighting and luminaires, switches and switchgear, solar products and conduits & accessories. Their promoters collectively have more than four decades of experience among them. Their Company was incorporated as ‘Polycab Wires Private Limited’ on January 10, 1996, in Mumbai as a private limited company under the Companies Act, 1956.


Recent Drivers

  • On Dec 30, 2021, the company acquired an additional 9% stake in Dowells Cable Accessories Private Limited for INR 2.18 crores.
  • On Dec 7, 2021, the company allotted 10,900 equity shares of face value of Rs.10/- under ESOP.
  • On Nov 18, 2021, the company reported that it has completed the disinvestment of 5,20,20,000 equity shares of Rs.10 each of Ryker Base Private Limited.
  • On Nov 11, 2021, the company incorporated a Subsidiary in India namely “Steel Matrix Private Limited”.
  • On Oct 26, 2021, the company reported a Net Sales of Rs. 3,128.83 crores in September 2021, up 48.03% from Rs.2,113.68 crores in September 2020.
  • On Oct 26, 2021, the company reported a Quarterly Net Profit of Rs.196.22 crores in September 2021.
(Sources: Moneycontrol, BSE, MarketScreener)


Technical Force*

  • S&P BSE 200 month till date gain up by 4.96%
  • Traded on All-Time high value 2697.80
  • 3 months avg. NSE volume: 431,573
  • Quantity traded: 63,168 | Deliverable quantity: 16,190 (25.63%)
  • Stock price has jumped more than 135% from a one-year-low level: 197.60 (Jan 28, 2021)
  • Daily RSI (14) is in Overbought territory today
  • 52-week-high: 2697.80 | 52-week-low: 1145.15


Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

4680.97

3664.18

3063.97

2047.18

1446.97

430.18

-

     -

Fibonacci Pivot

3664.18

3046.49

2664.88

2419.09

2047.18

1675.27

1429.49

1047.88

430.18


Today’s Close

2685.95

SMA

BSE

10 DAY

2493.98

20 DAY

2425.48

50 DAY

2415.62

200 DAY

2040.84


Some Key Ratios (Source: BSE)

Market Cap:  40,125.11 Crores

PE: 51.40

OPM%: 10.53

ROE%: 16.10

Promoters holding%: 68.36

Prev. Close: 2479.85




*Chart and Technical Force data from the Binge desktop app
The scope and usability of this information/data is time-sensitive and market-based, and as such the same may become outdated for the investment decisions of clients, for which Sharekhan Comtrade bears no responsibility. References to securities do not constitute a recommendation to buy, sell or hold such securities. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document and should consult his own advisors to determine the merits and risks of such an investment. Sharekhan Comrade Private Limited is under no obligation to update the information in this document from time-to-time.


Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.