Goldman Sachs sets Rs 5,750 target on Polycab India shares

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Goldman Sachs sets Rs 5,750 target on Polycab India shares
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Goldman Sachs (NYSE: GS ) has issued a 'buy' rating for Polycab India (NS: POLC ) Ltd., anticipating an 8.2% return with a price target of Rs 5,750 per share. This optimistic forecast is based on the company's expected revenue growth at a compound annual growth rate (CAGR) of 15% from FY24 through FY27E. Polycab's strategic capacity expansions and investments in the Extra High Voltage (EHV) segment are key factors driving this positive outlook. The firm is notably preparing to launch a new production line in Halol.

By midday today, Polycab India's shares reflected this confidence, peaking with a rise of 2.23%. Although there was a slight retraction, the shares still managed to maintain an increase of 0.45%. The stock has had an impressive year-to-date performance, soaring over 107%, with today's trading volumes nearly doubling the monthly average.

The broader analyst community remains largely bullish on Polycab India, with projections aligning to suggest an average price target that could yield approximately a 4.8% potential gain. This consensus underscores the company's robust market positioning and its ability to sustain superior near-term growth expectations.

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