Polycab India Share Price Today on 08-11-2024: Polycab India share price are down by -1.69%, Nifty down by -0.21%

Polycab India Share Price Today on 08-11-2024: At 08 Nov 16:01 today, Polycab India shares are trading at price ₹6699.95, -1.69% down from the previous closing price. Sensex is trading at ₹79486.32, down by -0.07%. The stock has hit a high of ₹6844 and a low of ₹6690 during the day.

On the technical front, the stock is trading above the 5,10,300 days SMA & lower than the 20,50,100 day SMA. The stock will have support at 5,10,300 days SMA & face resistance at 20,50,100 days SMA

The SMA values for the stock are given below :

The classic pivot level analysis shows that on a daily time frame, the stock has key resistances at ₹6814.77, ₹6889.38, & ₹6938.87, whereas it has key support levels at ₹6690.67, ₹6641.18, & ₹6566.57.

Polycab India Share Price Today

Till 4 PM today, the volume traded on NSE & BSE for Polycab India was -35.81% lower than the previous trading session. Volume traded is an important indicator along with price to study trends. Positive price movement with higher volume suggests a sustainable upmove, and negative price movement with higher volume might be an indication of further decline in prices.

Overall, as per Mint technical analysis, Initial signs of a trend reversal are evident following the recent downtrend..

From a fundamental analysis perspective, the company has a ROE of 24.07% & ROA of 16.77% respectively.The current P/E of the stock is at 57.25 & P/B is at 11.93.

The median 1-year forecasted upside in this share is at 11.49% with a target price of ₹7470.00.

The company has a 0.00% promoter holding, 0.99% MF holding, & 13.48% FII holding as per filings in the september quarter.

The MF holding has increased from 0.79% in june to 0.99% in the september quarter.

The FII holding has decreased from 13.62% in june to 13.48% in the september quarter.

Polycab India share price down -1.69% today to trade at ₹6699.95 while its peers are mixed. Its peers such as CG Power & Industrial Solutions, Hitachi Energy India, Ge Vernova T&d India are falling today, but its peers ABB India are on the rise. Overall, benchmark indices Nifty & Sensex are down -0.21% & -0.07% each respectively.