Polycab India Faces Significant Stock Volatility Amid Broader Cable Market Challenges

Jan 24 2025 01:35 PM IST
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Polycab India, a key player in the cable industry, faced a decline on January 24, 2025, underperforming its sector. The stock exhibited significant volatility, trading below multiple moving averages. Over the past month, it has experienced a notable downturn, contrasting with the broader market's relatively stable performance.
Polycab India, a prominent player in the cable industry, has experienced a notable decline of 3.16% on January 24, 2025. The stock's performance today underperformed the sector by 0.6%, reflecting broader challenges within the cable market, which has seen a decrease of 2.56%.

During the trading session, Polycab India reached an intraday high of Rs 6405.85, marking a gain of 2.52%, but subsequently fell to a low of Rs 6038.4, representing a decline of 3.36%. This volatility highlights the stock's current struggles, as it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.

In terms of broader market performance, Polycab India's one-day decline of 3.09% contrasts with the Sensex, which saw a minimal drop of 0.13%. Over the past month, the stock has faced a significant downturn of 14.59%, while the Sensex has only decreased by 2.61%. These metrics indicate a challenging environment for Polycab India amidst fluctuating market conditions.
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