Polycab India surges higher: Angel Broking

Mr. Amarjeet Maurya (AVP - Mid Caps, Angel Broking):

"The company has shown strong listing gain of ~22%. However, we expect further upside in stocks considering its reasonable valuation compare to its peers. Further, Polycab's market leadership position in wires & cables segment, diversified product portfolio, strong distribution network & brand recall and proven financial track record are the key positives.

Company background: Polycab India Ltd (PIL) manufactures and sells a diverse range of wires & cables. The company's key products in the wires & cables segment include power cables, control cables, instrumentation cables, solar cables, building wires and flexible cables. In the year 2009, the company diversified into engineering, procurement and construction (EPC) business. Further, it also ventured into fast moving electrical goods (FMEG) segment in 2014 and started offering products such as electric fans, LED lighting & luminaires, switches & switchgears, solar products & conduits and accessories. The company has 24 manufacturing facilities, including two joint ventures."

Source : Equity Bulls

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