The stock has witnessed significant buying activity as it has surged more than 65 per cent in the last 3 years. 

Shares of the company gained more than 150 per cent in the last six months.

The firm has a market cap of Rs 40.71 crore with a 5-year CAGR of 25 per cent. The company reported positive numbers in its quarterly results and annual results.

For Nippon Life India Asset Management (NAM India), higher growth in net profit was driven by higher other income owing to increase in value of equity investments driven by equity market performance and the downward movement of rates

On Thursday, shares of the company surged by more than 2 per cent and made an intraday high of Rs 15.16.

The broader market sentiment appeared upbeat, with approximately 1165 advancing stocks in contrast to 658 declining stocks. This equilibrium reflects an overarching optimistic outlook in the broader market landscape.

Over the years, Polycab India has made substantial investments in building robust capabilities for expanding its product portfolio and geographical reach and Project LEAP has helped strengthen its market share

According to the quarterly results, the company reported net sales of Rs 97 crore in Q1FY24 compared to net sales of Rs 99 crore in Q1FY23, a decrease of 2 per cent. The net profit decreased by 53.66 per cent to Rs 19 crore in Q1FY24 compared to a net profit of Rs 41 crore in Q1FY23.

At the pre-opening bell, the frontline index S&P BSE Sensex opened in red with a loss of 247.14 points or 0.37 per cent.

The price band of the issue has been fixed at Rs 187 to Rs 197 per equity share. The issue size is Rs 880 crore at a higher price band.