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Brokers' favourite, this midcap can be a solid re-rating candidate

Brokers' favourite, this midcap can be a solid re-rating candidate
Brokers' favourite, this midcap can be a solid re-rating candidate
“We expect PIL to trade at a premium over its peers due to its market leadership in wire & cables segments and transformation into a multiproduct electrical company over the next 24 months,” said Deepak Agarwal, analyst, PhillipCapital.

Synopsis

The company has delivered profit growth of 48% CAGR over the last 3 years with a return on equity of 20% during this period.

Polycab India (PIL) which has seen better than expected recovery across segments in the September quarter is one of analyst’s favourite stocks among the mid-cap space. Though the stock is currently trading at expensive valuations compared to its peers, analysts believe PIL will not only sustain the premium valuations due to its market leadership but will also see a strong re-rating in the coming months.The company has delivered profit growth of
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