At the current price of Rs 26,620, the stock is trading at a forward PE of 80x for FY24, having gained close to 20 percent in the past three months. The valuation is much higher as compared to other FMCG companies
Multibagger stock: Polycab India shares ended flat at Rs 3475, rising 0.17% in the previous session on BSE. The stock has climbed 54.11% in a year and risen 35% in 2023.
Some analysts believe that Apollo Tyres is focused on improving profitability over market share gain, while others say that current margins are difficult to sustain and rich valuations are capping the gains.