Polycab India's Stock Surges 4.79%, Outperforms Sector and Sensex on June 3rd

Polycab India, a leading player in the cable industry, has seen a positive surge in its stock price on June 3rd, 2024. The stock has gained 4.79% and has been performing well in the market. This has led to a 'Buy' call by MarketsMOJO, indicating a positive outlook for the company.

The stock has hit a new 52-week and all-time high of Rs.7106.2 on the same day, showcasing its strong performance. It has also outperformed the sector by 3.61%, further solidifying its position in the market.

Polycab India has been on a consecutive gain streak for the last 2 days, with a 5.33% increase in returns during this period. The stock also opened with a gain of 2.57% today, indicating a strong start to the day.

Intraday, the stock touched a high of Rs.7106.2, which is a 5.33% increase from its previous close. This shows the positive sentiment surrounding the company in the market.

Polycab India is also trading higher than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong uptrend in its stock price.

In comparison to the Sensex, Polycab India has outperformed with a 1-day performance of 3.98% against Sensex's 2.74%. It has also shown a strong 1-month performance of 20.31% compared to Sensex's 2.86%.

Overall, Polycab India's stock has shown a positive and consistent performance, making it a promising investment option in the cable industry. With its strong financials and market position, the company is poised for further growth in the future.