R R Kabel surges 10% after Q1 profit doubles; CLSA calls it a buy

R R Kabel shares jumped 10% in early trade Tuesday, hitting a fresh high of ₹2,775, before paring gains to trade at ₹2,597. The move came after the company reported strong Q1FY27 results, with standalone net profit more than doubling to ₹203.1 crore from ₹88.7 crore a year earlier.

The cables and wires business, the company's largest segment, grew 57% year over year. That outpaced rivals Polycab, which posted 38% growth in the same line, and Havells, which grew 27%. The gap suggests R R Kabel is taking market share in a sector where demand from infrastructure and housing remains steady.

Brokerage CLSA initiated coverage on the stock with an outperform rating and a price target of ₹2,850 per share. The firm cited what it called