Polycab India Remains Strong in Cable Industry, Receives 'Buy' Call from MarketsMOJO

Polycab India, a leading cable company in the largecap industry, has been making headlines in the stock market recently. Despite facing a loss of -6.48% in today's opening, the stock has been given a 'Buy' call by MarketsMOJO.

The stock's performance today has been inline with the sector, but it has been on a consecutive fall for the last 3 days, with a -5.93% decline in returns during this period. It opened with a gap down of -6.48% and touched an intraday low of Rs 6303.35. The stock has also shown high volatility today, with an intraday volatility of 38.47%.

However, the stock's moving averages are still higher than the 100 day and 200 day moving averages, but lower than the 5 day, 20 day, and 50 day moving averages. This indicates a mixed trend for the stock in the short term.

In the cable sector, Polycab India's performance has been in line with the overall sector, which has fallen by -2.27%. But compared to the Sensex, the stock's 1 day and 1 month performance has been slightly lower, with -3.94% and -2.33% returns respectively, while the Sensex has shown -2.00% and -0.79% returns in the same time periods.

Despite the recent dip in the stock's performance, Polycab India remains a strong player in the cable industry and has been given a 'Buy' call by MarketsMOJO. Investors can keep an eye on the stock's performance and make informed decisions based on their own research and risk appetite.