External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<p>We value Polycab at 27x FY24 EPS of Rs 92.3 to arrive at target price of Rs 2,490/share (vs. Rs 2,575/share earlier),implying an upside of 4% from CMP. Hence, we recommend HOLD rating on the stock at current levels.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We value Polycab at 27x FY24 EPS of Rs 92.3 to arrive at target price of Rs 2,490/share (vs. Rs 2,575/share earlier),implying an upside of 4% from CMP. Hence, we recommend HOLD rating on the stock at current levels.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Polycab India: Divests 100% Stake in Ryker Base

<p>We have increased FY22E/FY23E revenue estimates by 3.4%/4%, respectively. We value Polycab at 25x FY23E EPS of Rs 80 to arrive at a target price of Rs 2000/share, which gives an upside of 5% from the CMP.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We have increased FY22E/FY23E revenue estimates by 3.4%/4%, respectively. We value Polycab at 25x FY23E EPS of Rs 80 to arrive at a target price of Rs 2000/share, which gives an upside of 5% from the CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Polycab India: RM Costs Impact Margins; Demand Recovery Expected in H2FY22

<p>We have increased FY22E/FY23E revenue estimates by 3.8%/7.8% respectively. We value Polycab at 25x FY23E EPS of Rs 76 to arrive at a target price of Rs 1900/share, implying an upside of 10% from CMP.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We have increased FY22E/FY23E revenue estimates by 3.8%/7.8% respectively. We value Polycab at 25x FY23E EPS of Rs 76 to arrive at a target price of Rs 1900/share, implying an upside of 10% from CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

POLYCAB: We have increased FY22E/FY23E revenue estimates by 3.8%/7.8% respectively

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

<p>Polycab has set a target to achieve Rs 20,000 crore revenues by FY26 (18% CAGR) through various strategic initiatives such as strengthening of its B2C product portfolio and maintaining leadership position in the B2B category. On the FMEG front, the company has set a target to expand dealers in top...</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Polycab has set a target to achieve Rs 20,000 crore revenues by FY26 (18% CAGR) through various strategic initiatives such as strengthening of its B2C product portfolio and maintaining leadership position in the B2B category. On the FMEG front, the company has set a target to expand dealers in top...Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

POLYCAB: Polycab has set a target to achieve Rs 20,000 crore revenues by FY26 (18% CAGR) through ...

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<p>While a more cautious outlook is appropriate, as long as $77 holds (the September lows) we are constructive and would be buyers on a pullback. A move below $77 would start to get very concerning, and would leave $75 and the 200-day MA as last-ditch support. Considering the recent pullback we want to be sticking with areas that have continued to outperform in spite of recent broad market weakness. For that we look to the following leadership Sectors: <strong>Technology, Consumer Discretionary, Manufacturing, Materials, and Transportation</strong></p>

While a more cautious outlook is appropriate, as long as $77 holds (the September lows) we are constructive and would be buyers on a pullback. A move below $77 would start to get very concerning, and would leave $75 and the 200-day MA as last-ditch support. Considering the recent pullback we want to be sticking with areas that have continued to outperform in spite of recent broad market weakness. For that we look to the following leadership Sectors: Technology, Consumer Discretionary, Manufacturing, Materials, and Transportation

India

Polycab India Limited produces and distributes electronic equipment. The Company offers cables, wires, fans, switches, lighting, junction boxes, circular lids, and pumps. Polycab India serves customers in India.   

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Polycab India (POLYCAB IN)

Polycab India: Divests 100% Stake in Ryker Base

We value Polycab at 27x FY24 EPS of Rs 92.3 to arrive at target price of Rs 2,490/share (vs. Rs 2,575/share earlier),implying an upside of 4% from...

Axis Direct

Polycab India: RM Costs Impact Margins; Demand Recovery Expected in H2FY22

We have increased FY22E/FY23E revenue estimates by 3.4%/4%, respectively. We value Polycab at 25x FY23E EPS of Rs 80 to arrive at a target price of...

Axis Direct

POLYCAB: We have increased FY22E/FY23E revenue estimates by 3.8%/7.8% respectively

We have increased FY22E/FY23E revenue estimates by 3.8%/7.8% respectively. We value Polycab at 25x FY23E EPS of Rs 76 to arrive at a target price...

Axis Direct

POLYCAB: Polycab has set a target to achieve Rs 20,000 crore revenues by FY26 (18% CAGR) through ...

Polycab has set a target to achieve Rs 20,000 crore revenues by FY26 (18% CAGR) through various strategic initiatives such as strengthening of its...

ICICI Securities Limited

Cautiously Optimistic on Global Equities

We are constructive on global equities and would be buyers on a pullback. A move below $77 would start to get very concerning, and would leave $75...

Vermilion Research

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