Polycab India (POLC.NS) shares fell 3.81% to ₹8,864 in morning trade, erasing gains from a strong first-quarter fiscal 2027 performance.
The decline reflects a classic 'sell the news' dynamic, with traders booking profits after the stock surged 21% over the previous month.
The sell-off occurred despite the company reporting better-than-expected quarterly results.
Market participants appear to be prioritizing short-term technical corrections over fundamental strength, suggesting that the recent rally may have priced in much of the positive earnings surprise ahead of the official release.
Analysts remain split on the stock's near-term trajectory.
While some maintain bullish stances based on Polycab's dominant market position in wires and cables, others warn that the rapid appreciation leaves little room for immediate upside without fresh catalysts.