Polycab shares in focus after Rs 3,003 crore agreement with BSNL for BharatNet

Polycab shares will be in focus on Thursday after the company secured a Rs 3,002.99 crore contract from Bharat Sanchar Nigam Limited (BSNL) for the BharatNet project in Bihar.

Under the agreement, Polycab will serve as the Project Implementation Agency (PIA), overseeing the design, supply, construction, installation, upgradation, operation, and maintenance of the middle-mile network.

The contract includes a capital expenditure (Capex) of Rs 1,549.66 crore and an operational expenditure (Opex) of Rs 929.79 crore for the newly constructed network and Rs 523.53 crore for the existing network. The project will be executed over three years, followed by a ten-year maintenance period, with annual charges at 5.5% of capex for the first five years and 6.5% for the next five years.


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Polycab shares target price

As per Trendlyne data, the average target price of the stock is Rs 7,498, which shows an upside of 50% from the current market prices. The consensus recommendation from 29 analysts for the stock is a 'Buy'.

Polycab shares technical indicators

Technically, the stock's relative strength index (RSI) is at 38.4. According to Trendlyne, an RSI below 30 is considered oversold, while above 70 indicates overbought conditions. Additionally, the MACD is at -283.4, which is below its center line, this is a bearish indicator.

The stock is trading below its 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages (SMAs).

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Polycab shares performance

The stock has declined 33% in the last three months but gained 70% in the last two years. The company’s market capitalization stands at Rs 75,371 crore.

The share hit a 52-week high of Rs 5,488 on July 5, 2024, and a 52-week low of Rs 2,350 on March 3, 2025.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)