Many in the stock market may have given multibagger returns, in which many stocks may also be fundamentally strong. But there are very few companies that have performed well on every factor. Shares of Polycab India company have given good returns in the last few years. This company is among the leading companies in the wire and cable industry. Shares of Polycab India have given a return of 200 percent in the last 3 years.
Polycab India Company is debt free, with a stock price to equity ratio of 56.62. Similarly, the price to book ratio is at a high level of 12.32. However, the stock has registered a growth of 40.13% and 39.43% in its earnings per share (EPS) for the financial years ended March 2024 and March 2023, respectively.
Money tripled in 3 years
If someone had invested in this stock exactly three years ago and had remained with the same investment till now, then his investment would have tripled. Because Polycab India has given a return of 200 percent in the last three years. On Wednesday, the company’s shares were trading at Rs 6717. During the last one year, this stock has gained 29 percent.
So much return in five years
During the last five years, Polycab India shares have given a return of more than 1000 percent. The market cap of the company has crossed Rs 1 lakh crore. Its 52-week high level is Rs 7331 and the lowest level is Rs 3801 per share. Foreign investors have a 13.63 percent stake in this company. Retail investors have 14.42 percent, while promoters have a 65.02 percent stake.
Target on Polycab India shares
SBI Securities has set a target of Rs 7,979.6 for Polycab shares. The company has 28 manufacturing facilities and a large distribution network across India. Apart from this, Polycab can generate revenue of Rs 20,000 crore by FY26, as its performance has been strong with over Rs 18,000 crore in FY24. SBI Securities said that the company expects growth despite mixed performance in the first quarter of FY25. At the same time, Motilal Oswal has given a target of Rs 7,500 on Polycab stock.
(Note- Before investing in any stock, please consult your market expert.)
Source (PTI) (NDTV) (HINDUSTANTIMES)