Polycab Shares Surge 5% on Strong Revenue, Optimistic Outlook; Citi Sets ₹9,500 Target

• Polycab India Ltd. shares rose 5% after reporting a 46% year-on-year revenue growth in the December quarter, significantly beating estimates.
• Growth was driven by strong momentum in wires and cables (46% YOY) and the FMEG segments, despite operating margins declining to a five-quarter low.
• Management expects strong growth to continue in the March quarter, with planned price hikes aimed at sequential margin expansion.
• Brokerage firm Citi reiterated a 'Buy' rating and raised its price target to ₹9,500, while Jefferies maintained 'Buy' with a ₹9,225 target.
• Jefferies views Polycab as a key beneficiary of private capital expenditure, housing, and infrastructure, projecting a 25% EPS CAGR over FY25-28.

Why It Matters: Polycab shares gained on robust revenue growth and positive analyst outlook, despite margin pressures.