Street View: Polycab India delivers on growth but caution builds

By Reuters News

** Polycab India POLC.NS on Thursday posted higher September-quarter profit on steady demand for wires

** Stock flat at 8,204.50 rupees; YTD up 7.7%

STRONG QUARTER, CAUTION AHEAD

** Jefferies ("buy", PT: 11,100 rupees) says cables and wires and FMEG drove quarterly growth, but flags rising competition, slowing demand and copper price volatility as key risks

** Investec ("hold", PT: 8,870 rupees) remains cautious, citing intensifying competition and significant capacity additions by peers
** Dolat Capital ("accumulate", PT: 9,720 rupees) highlights stronger-than-expected growth, but warns of geopolitical uncertainty, shipping disruptions and a high base effect

** BofA ("buy", PT: 11,000 rupees) says profitability remained robust, though volume growth could be volatile due to a high base

** Macquarie ("outperform", PT: 10,156 rupees) expects healthy growth momentum in the power and infrastructure business to continue

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