“A meeting of the board of directors of the Company is scheduled to be held on Saturday, May 2, 2020, to consider and approve the proposal for investment / acquisition of shares,” Polycab India
said in a regulatory filing on Wednesday after market hours.
In the past seven trading days, the stock has fallen 9 per cent, thus underperforming the S&P BSE Sensex which rose 3.3 per cent. The stock hit an all-time high of Rs 1,180 on February 24, 2020 in intra-day trade.
is a manufacturer of wires and cables with 18 per cent share of the organized and 12 per cent share of the total market. In wires & cables, Polycab has the widest range of power cables, control cables, instrumentation, building wires and industrial cables. It caters to institutional as well as retail customers across industries.