Monday , 29 November 2021
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Polycab India inches up on incorporating subsidiary company in India

Polycab India inches up on incorporating subsidiary company in India

Polycab India is currently trading at Rs. 2499.45, up by 1.25 points or 0.05% from its previous closing of Rs. 2498.20 on the BSE.

The scrip opened at Rs. 2510.00 and has touched a high and low of Rs. 2520.00 and Rs. 2479.35 respectively. So far 7570 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 2647.40 on 11-Oct-2021 and a 52 week low of Rs. 900.00 on 21-Dec-2020.

Last one week high and low of the scrip stood at Rs. 2514.85 and Rs. 2320.00 respectively. The current market cap of the company is Rs. 37361.39 crore.

The promoters holding in the company stood at 68.36%, while Institutions and Non-Institutions held 15.67% and 15.97% respectively.

Polycab India has incorporated a subsidiary company in India namely ‘Steel Matrix’ (SMPL) on November 11, 2021. The Company has incorporated SMPL with an objective of securing dependable supply of quality packing materials, improving control over the supply chain and increase the overall operating efficiencies. SMPL will also help to strengthen the backward integration of the Company’s manufacturing process.

Polycab India is the largest cables & wires manufacturer. It is also the fastest growing company in the Indian cable industry with consistent growth. The company also in the business segment of EPC, Cables.