RR Kabel shares jump 7% to record high after Q1 outpaces Polycab and Havells
AI Market Summary
RR Kabel reported a strong FY2024 Q1, with revenue up ~52% YoY and PAT up 133%, alongside EBITDA margin expansion, driven by 57% growth in wires and cables that outpaced key peers. The stock hit record highs on the results, reinforced by CLSA's coverage initiation. The news is primarily an idiosyncratic, earnings-led catalyst with limited broader cross-asset impact.
Impact level
● Low
Affected assets
NCCOGOLD2USD/USDT-1.29%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
Trade now
⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
RR Kabel reported fiscal Q1 revenue of 31.68 billion Indian rupees, up 52% year on year, while profit after tax (PAT) rose 133% to 20.5 billion Indian rupees. Revenue from its core wires and cables business surged 57%, beating Polycab’s 38% and Havells’ 27%. The stock climbed as much as 9% during the session to a record high, as the earnings release acted as the key catalyst for the move.
