Polycab India shares traded at ₹7,904.50 on the NSE at 10:44 am on 30 October, up 2.06% or ₹159.50 from the previous close of ₹7,745.00. The stock opened at ₹7,700.00 and hit a day’s low of ₹7,573.50, so it has rallied over 4% from the low after reports that the National Company Law Appellate Tribunal (NCLAT) has set aside the insolvency proceedings against the company. The stock’s 52-week range is ₹6,663.00 to ₹10,126.00, which puts it about 22% below the high and about 19% above the low. Its dividend yield is 0.60%. Polycab had fallen over the past month as the insolvency case triggered an exit from the derivatives segment.
What happened
The NCLAT has set aside the insolvency proceedings that the NCLT Ahmedabad bench…