Polycab India Ltd has achieved a fresh record high in May, breaking out of a two-month consolidation phase according to reports from The Economic Times. The capital goods sector company has been gradually trending higher since breaking out of its consolidation phase, interspersed with brief periods of consolidation. The stock's performance suggests the rally may not be over yet, with chart patterns indicating potential for continued upward movement.
Multiple brokerages have issued bullish price targets for Polycab India Ltd following the stock's record performance. Motilal Oswal has set a target of ₹9,800, while Prabhudas Lilladher has issued an even more aggressive target of ₹10,282 for the stock. The technical analysis suggests the breakout from the two-month consolidation phase has provided a strong foundation for continued upward movement in the near term, with the stock currently trading above key moving averages.
The company has demonstrated robust financial results, with standalone net sales reaching ₹8,585.10 crore in March 2026, representing a 25.49% year-on-year growth. This strong financial performance has contributed to the stock's upward momentum and positive market sentiment. The company's consistent growth trajectory has been a key factor in attracting investor interest and supporting the stock's record-breaking performance.
For risk management, experts recommend a stop loss below ₹9,000 for short-term traders, according to The Economic Times. This technical level provides a clear risk management framework for positions taken at current levels. The stop loss placement below the recent highs ensures that traders can exit positions if the stock experiences a significant correction from current levels. With the stock trading at ₹9,150-₹9,221 range and a market capitalization of ₹138,417 crore, the technical setup remains favorable for continued upward movement.
