Dhanlaxmi Bank

Jefferies rates Polycab “Buy” with an Rs 11,040 target, implying 33% upside, despite shares falling about 20% from their June peak and new competition from UltraTech’s UltraVolt. In Q2FY27, cable and wire sales rose 47%, largely on higher prices, while solar-led FMEG sales more than doubled and margins improved.