CMP : RS 876 (14.08.2020)
TARGET : RS 935
PERIOD : 1 WEEK
SL : BELOW RS 830
Polycab India Ltd., incorporated in the year 1996, is a Mid Cap company (having a market cap of Rs 13053.24 Crore) operating in Consumer Durable sector.
Polycab India Ltd. key Products/Revenue Segments include Cables & Wires which contributed Rs 6884.16 Crore to Sales Value (87.02 % of Total Sales), Fast Moving Electrical Goods (FMEG) which contributed Rs 641.61 Crore to Sales Value (8.11 % of Total Sales), Income from Eng.Construction Contracts which contributed Rs 379.55 Crore to Sales Value (4.79 % of Total Sales), Export Incentives which contributed Rs 5.23 Crore to Sales Value (0.06 % of Total Sales)for the year ending 31-Mar-2019.
For the quarter ended 30-06-2020, the company has reported a Consolidated sales of Rs 976.60 Crore, down -54.14 % from last quarter Sales of Rs 2129.38 Crore and down -49.48 % from last year same quarter Sales of Rs 1932.98 Crore Company has reported net profit after tax of Rs 118.72 Crore in latest quarter.
The promoters are holding around 69% of the stock. Financial institutions, Foreign institutions and Mutual funds are also keeping this stock in good volumes. The available stock for general public is only 11% of the total equity.
Technical Analysis:
1. Stock has given a rectangle breakout on daily chart with huge volume.
2. Also prices are trading well above ichimoku clouds showing trend is intact.
3. Both momentum indicators RSI and MACD are ranging in positive territory.
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