Polycab shares in focus after securing Rs 6,448-crore BharatNet contract from BSNL

Polycab shares
will be in focus on Wednesday after the company announced it has secured a contract worth Rs 6,447.54 crore from Bharat Sanchar Nigam Limited (
BSNL
) under the BharatNet project. The contract appoints
Polycab India
as the
Project Implementation Agency
(PIA) for
network development
in Karnataka, Goa, and Puducherry.
The agreement, part of Package 4 of the amended BharatNet programme, includes the design, supply, construction, installation, upgradation, operation, and maintenance of middle-mile network infrastructure.
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According to the company's stock exchange filing, the total contract value includes a capital expenditure (capex) of Rs 3,741.92 crore, operational expenditure (opex) of Rs 2,245.15 crore for the newly constructed network, and Rs 460.47 crore for the existing network—all inclusive of GST.
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The project involves a three-year construction phase followed by a 10-year maintenance period. Maintenance charges will be billed at 5.5% of the capex annually for the first five years and 6.5% per annum for the remaining five years.
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Polycab shares target price
As per Trendlyne data, the average target price of the stock is Rs 6,751, which shows an upside of 12% from the current market prices. The consensus recommendation from 28 analysts for the stock is a 'Buy'.
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Polycab shares technical indicators
Polycab's Relative Strength Index (RSI) stands at 54.8, suggesting neutral momentum. An RSI below 30 indicates an oversold stock, while a reading above 70 signals overbought conditions. The MACD is at 94.6—above the centre line, but below the signal line.
The stock is currently trading below its 5-day, 10-day, 150-day, and 200-day simple moving averages (SMAs), but remains above the 20-day, 30-day, 50-day, and 100-day SMAs.
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Polycab shares performance
Polycab
shares have gained 20% over the past three months but are down 15% over the last 12 months. The company's market capitalisation stands at Rs 90,894 crore.
(
Disclaimer
: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

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