POLYCAB

b stock extends winning run to 4th session, gains 3.5% as Morgan Stanley sees 52% upside

Maintaining their winning run for the fourth consecutive trading session, shares of Polycab India, the country's largest cables & wires company, jumped another 3.5% in today's intraday trade, March 5, reaching ₹5078 apiece after global brokerage firm Morgan Stanley maintained its bullish view on the company, citing the continued demand in the cables and wires segment and expects limited industry impact on UltraTech's entry. It maintained its 'Overweight' call on the stock with a target price of ₹7,395, indicating a significant upside of 52% for the stock from its latest closing price. The brokerage highlighted a strong demand uptick in the cables and wires (C&W) segment so far in Q4, with exports also showing promising growth. Additionally, it noted that Indian C&W players could benefit from the import tariffs imposed by the U.S. on peer countries, potentially providing further upside.