Sunday , October 17 2021

Polycab India surges on signing agreement to acquire stake in Silvan Innovation Labs

Polycab India is currently trading at Rs. 1968.65, up by 32.40 points or 1.67% from its previous closing of Rs. 1936.25 on the BSE.

The scrip opened at Rs. 1914.80 and has touched a high and low of Rs. 1975.10 and Rs. 1914.30 respectively. So far 21287 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 2000.05 on 18-Jun-2021 and a 52 week low of Rs. 760.00 on 19-Jun-2020.

Last one week high and low of the scrip stood at Rs. 2000.05 and Rs. 1806.00 respectively. The current market cap of the company is Rs. 29346.93 crore.

The promoters holding in the company stood at 68.42%, while Institutions and Non-Institutions held 16.29% and 15.29% respectively.

Polycab India has signed an agreement to acquire 100% stake in Silvan Innovation Labs (Silvan). Silvan is a technology company focused on providing cutting edge automation offerings for homes, offices, banks, retail outlets, hotels and other spaces. Silvan pioneered the concept of home automation in the Indian residential building market and has a proven track record with many prominent real estate developers.

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.

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