Polycab India Shows Signs of Recovery Amid Mixed Short-Term Outlook

Jan 23 2025 09:50 AM IST
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Polycab India experienced a notable gain on January 23, 2025, reversing a two-day decline and reaching an intraday high. Despite this uptick, the stock remains below several key moving averages, reflecting a mixed outlook, while it has declined over the past month amid broader market trends.
Polycab India, a key player in the cable industry, saw a notable gain of 3.9% on January 23, 2025, outperforming its sector by 3.01%. This uptick marks a trend reversal following two days of declines, with the stock reaching an intraday high of Rs 6412.25, reflecting a 4.19% increase during the session.

Despite this positive movement, Polycab India is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a mixed outlook in the short to medium term. Over the past month, the stock has experienced a decline of 9.82%, while the broader Sensex index has decreased by 2.52%. As a large-cap company, Polycab India remains a significant entity in the cable industry, navigating through various market fluctuations and performance metrics.
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