From Business Standard: 2024-04-30 04:02:47

Shares of Polycab India hit an all-time high of Rs 5,787.10, up 2.7% on the BSE. The stock has recovered 52% from its low on January 11, 2024. Rumors of tax evasion caused a 33% drop in market price, but the company denied the allegations. Revenue growth in C&W segment remains strong, but FMEG segment faces challenges. The company plans to introduce new SKUs in the Fans division to drive growth.

The company refuted rumors of tax evasion and emphasized its commitment to quality products and ethical business practices. Strong growth in C&W segment in Q3FY24 due to government measures and domestic market demand. FMEG segment saw a 13% decline in revenue, mainly due to weak consumer demand. The company remains focused on providing quality products and services while upholding corporate governance standards.



Read more at Business Standard: Polycab India hits all-time high; stock soars 52% from January low | News on Markets