Polycab stock falls 4% today despite Q1 earnings beat; Jefferies, HSBC retain Buy calls

Polycab stock fell 4% on August 13, extending losses for a third straight session.

The company reported a Q1 earnings beat, driven by strong growth in wires and cables and a surge in the FMEG business.

Jefferies retained a Buy call on Polycab with a target price of ₹7,750.

HSBC also maintained a Buy rating with a target price of ₹7,544.