Polycab India Limited is the country s largest manufacturer of wires and cables. Its business operations span across India through 23 manufacturing facilities, more than 15 offices and over 25 warehouses.
Polycab is India s largest company in the cables and wires sector with a market share of 15% in the organised category. The stock, which has more than doubled in value in the last one year, is seen as a major play on the capex upcycle in India.
Shares of Allcargo Logistics rallied 10% to Rs 315 on NSE after the company announced that it will demerge its money-spinning international business ECU Worldwide into a separate listed entity Allcargo ECU
Shares of Polycab India declined over 5 percent in intra-day deals on Friday following searches conducted by the Income Tax Department s investigation wing at nearly 50 locations linked to the company across the country.