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F&O traders cover short positions in Polycab, shares surge 7%

Shares of Polycab India surged nearly 7% intraday on Monday as traders covered short positions taken in the futures and options segment of the cable-maker over the last few sessions, where it crashed by nearly a third amid reports of tax evasion. ....

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Sanjiv Bhasin | Sanjiv Bhasin stocks: 3 stocks to play aviation theme; add these 2 IT largecaps: Sanjiv Bhasin

Sanjiv Bhasin recommends adding HCL Tech and Wipro in the largecap space, as the IT sector is performing well. In the two-wheeler pack led by Hero MotoCorp and Bajaj Auto, which are benefiting from the revival of rural incomes and their adaptation to EVs. Bhasin believes these stocks are priced to perfection in the near term, but earnings will be the next barometer. He advises against investing in SpiceJet due to leverage and uncertainty. ....

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Polycab Share Price: Polycab plunges 20% as I-T dept detects unaccounted sales of Rs 1,000 crore during raids, ET Telecom

Polycab Share Price: Shares of electrical equipment manufacturer Polycab tanked 20% to the day s low of Rs 3,801 on Thursday after the Income Tax department detected "unaccounted cash sales" of about Rs 1,000 crore after it recently raided the Polycab group. A total of 50 premises in Mumbai, Pune, Aurangabad and Nashik in Maharashtra, Daman, Halol in Gujarat and Delhi were reported to have been covered in the raids. ....

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Polycab share price: Polycab plunges 20% as I-T dept detects unaccounted sales of Rs 1,000 crore during raids

Shares of Polycab, an electrical equipment manufacturer, plunged 20% after the Income Tax department uncovered unaccounted cash sales of about Rs 1,000 crore during a recent raid on the Polycab group. The CBDT revealed that the group, in collusion with authorized distributors, evaded taxes through unrecorded cash sales. Polycab India denied the allegations, asserting its commitment to compliance and transparency. ....

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