Cable stock in green after the company emerges as the lowest bidder (L1) for an order worth Rs 4099,69,75,635.30 from Bharat Sanchar Nigam Limited (BSNL)
The shares of the company saw a spurt in volume by more than 1.54 times on BSE.
Polycab India Limited emerges as the Lowest Bidder (L1) from an order worth Rs 4099,69,75,635.30 from Bharat Sanchar Nigam Limited (BSNL) to undertake the development, upgradation, operation, and maintenance of the middle mile network of BharatNet in Karnataka, Goa, and Puducherry. This three-year construction phase will be followed by a ten-year maintenance period, with annual fees increasing from 5.5 per cent to 6.5 per cent of the capital expenditure. This significant win solidifies Polycab India's position as a key player in India's digital infrastructure development, contributing to the nation's goal of bridging the digital divide and fostering economic growth.
On Wednesday, shares of Polycab India Limited gained 3.81 per cent to Rs 6,885.30 per share from its previous closing of Rs 6,632.55 per share with an intraday high of Rs 6,934.15 and an intraday low of Rs 6,650. The stock’s 52-week high is Rs 7,607.15 and its 52-week low is Rs 3,812.35. The shares of the company saw a spurt in volume by more than 1.54 times on BSE.
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Polycab India Ltd. is a prominent player in India's electrical industry, renowned for its wide range of high-quality cables, wires, and allied products. The company has been a trusted name for decades, catering to both retail and industrial consumers. In recent years, Polycab has expanded its product portfolio to include consumer electrical products like fans, switches, LED lights and solar inverters, further solidifying its position in the market.
Polycab has demonstrated a consistent track record of growth and profitability. The company's strategic focus on innovation, quality, and customer satisfaction has enabled it to maintain a strong market position. With its ambitious "Project Leap," Polycab aims to achieve a significant revenue milestone of Rs 20,000 crore by FY26. The company has a dividend pay-out of 24 per cent. Investors should keep an eye on this cable stock.
Disclaimer: The article is for informational purposes only and not investment advice.