Polycab India Stock Surges 5% Amidst Market Dip; Brokerages Eye 2000+ Point Rally

• Polycab India Ltd. shares jumped nearly 5% on January 19, driven by Q3 revenue significantly exceeding estimates.
• The company's revenue grew 46% year-on-year in Q3, surpassing market expectations of 30%, led by strong Wires and Cables and FMEG demand.
• Operating margins faced pressure, declining 110 basis points YoY to a five-quarter low, despite positive EBIT from FMEG.
• Management anticipates continued strong growth in the March quarter and plans further price hikes to improve sequential margins.
• Brokerage firms Citi, Jefferies, and Morgan Stanley maintained 'Buy' or 'Overweight' ratings, with target prices ranging from ₹9,225 to ₹9,500, citing strong growth prospects.

Why It Matters: Polycab India's strong revenue growth and positive brokerage outlook signal significant upside potential despite margin pressures.