Polycab share jump nearly 3% after Jefferies maintains ‘Buy' with Rs 7,150 target
By Aman Shukla Published on June 23, 2025, 10:28 IST
Polycab India Ltd shares jumped nearly 3% in morning trade after global brokerage Jefferies reaffirmed its 'Buy' rating and set a target price of ₹7,150 per share. The firm cited strong growth across Polycab's core and emerging business verticals, along with solid future earnings visibility.
Since March 2025, Polycab shares have rallied 25%, currently trading at 34x FY26 earnings—only slightly higher than its 5-year average valuation, according to Jefferies. A key factor behind this growth is Polycab's consistent expansion in its core Cables & Wires (C&W) segment, where it gained 1% market share in FY25.
The brokerage highlighted that Polycab has invested ₹2,800 crore in capex over the past four years, fueling a 26% CAGR in sales within the C&W segment. Meanwhile, the FMEG (Fast-Moving Electrical Goods) business turned profitable in FY25 after 10 straight loss-making quarters, signaling a major turnaround.
Polycab's FY25 annual report also spotlighted Project 'Spring' and ambitious FY30 growth plans. Jefferies projects a 26% CAGR in EPS from FY25 to FY28, driven by an expanding order book, improving margins in FMEG, and enhanced operational efficiency.
Polycab stock opened at ₹6,000.50, touched a high of ₹6,178.50, and a low of ₹5,975.00 during the session. Currently, the 52-week high stands at ₹7,605.00, while the 52-week low is ₹4,555.00.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
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Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
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