Cable stocks offer a compelling opportunity to invest in companies offering services in the electrical cable industry. The stocks in this industry are affected by demand and supply, market positioning, government regulations, and more. However, given the increase in the trend of Urbanization and increasing disposable income, these companies are well-positioned for growth. Today’s blog is focused on top cable stocks to invest in 2024.
Polycab India
Polycab comes in the list of India’s leading wires and cables manufacturers. It also produces allied products such as uPVC, conduits, glands, and lungs. Recently the company has launched a wide range of electrical products like Switchgear, Fans, Switches, LED Lights, and Luminaries. Polycab products are known for superior quality and durability.
The company was recognized as ‘Best Brand 2023’ by the Economic Times.
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Polycab Share Price as of February 2024: ₹4300+
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Market Cap: ₹65,229.00 Cr
KEI Industries
KEI Industries was established in 1968 and is one of India's biggest cable manufacturing companies. The company’s business is divided into 3 segments – Turnkey projects, Cables, and Stainless steel. KEI has a large network of over 30,000 channel partners and serves 55+ countries across the globe.
KEI Industries have been awarded ‘Super Brand’ award status for 2011, 2012, 2014, and 2015.
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KEI Industries Share Price as of February 2024: ₹3100+
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Market Cap: ₹29,073.10 Cr
Finolex Cables
If there is one company that is a leading manufacturer of Telecommunications and Electrical cables, it is Finolex Cables. The company has a diverse product mix ranging from Low smoke electrical wires, PVC insulated electrical wires, Rodent repellent multicore flexible cables, etc.
Finolex has also expanded into Geyser, Fans, LED Lights, and MCB offerings. An Award of Honor has been presented to the chairman of the Finolex group.
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Finolex Cables Share Price as of February 2024: ₹990+
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Market Cap: ₹15,241.90 Cr
Sterlite Technologies
Sterlite Technologies plays a pivotal role by providing global optical and digital solutions to build 5G, FTTx, Enterprise, and Data Centres. The company has manufacturing capacity in 4 continents and serves in more than 100 countries. Clients include telecom operators, cloud companies, citizen network companies, etc.
The Indian Chamber of Commerce has recognized the company with the ‘Gold Award 2023’ for the safety and health of employees and stakeholders.
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Sterlite Technologies Share Price as of February 2024: ₹130+
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Market Cap: ₹5,180.13 Cr
RR Kabel
RR Kabel has been in existence for the last 3 decades and was listed last year only. Its segments include Fans, Lighting, Switch gears, Wires and cables, etc. The company caters to commercial, industrial, residential, and infrastructure segments.
RR Kabel received the Prestigious SAP ACE Awards 2023 in the game changer category for embracing business transformation and ease of doing business.
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RR Kabel Share Price as of February 2024: ₹1420+
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Market Cap: ₹ 16,178.20 Cr
With the revolution in Internet technologies (5G) and space tech, the cable sector is poised for exponential growth. However, before jumping into the bandwagon you must factor in your risk tolerance, time horizon, and the sector’s know-how. To buy stocks online, you can consider India’s one of the leading investment platforms Dhan.
