Polycab India trades in green on partnering with Redington
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Polycab India is currently trading at Rs. 2587.95, up by 23.60 points or 0.92% from its previous closing of Rs. 2564.35 on the BSE.
The scrip opened at Rs. 2567.05 and has touched a high and low of Rs. 2593.60 and Rs. 2560.95 respectively. So far 4654 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2853.50 on 19-Oct-2022 and a 52 week low of Rs. 2045.00 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 2593.60 and Rs. 2520.05 respectively. The current market cap of the company is Rs. 38736.87 crore.
The promoters holding in the company stood at 67.97%, while Institutions and Non-Institutions held 16.79% and 15.23% respectively.
Polycab India and Redington have entered into a strategic partnership for Indian market. Polycab will have now Redington as its National Distributor for its end-to-end passive networking solutions. With this tie-up, Polycab’s telecom division, Polycab Telecom looks forward to meet its distribution-objectives and strengthen the presence of its passive networking portfolio, comprising end-to-end copper and fibre system, all across India, capitalizing on Redington’s extensive distribution-network and efficient operational expertise.
In view of the growing demand for connectivity and data-services, the agreement between Polycab and Redington holds huge significance. Renowned for the optimal use of resources to ensure the best-possible results, Redington will enable Polycab to engage with its large chain of Value-Added Distributors (VADs) and drive business through them across different tiers of cities in the country.
Polycab India is the largest cables & wires manufacturer. It is also the fastest growing company in the Indian cable industry with consistent growth. The company also in the business segment of EPC, Cables.
