Finolex Cables shares fall 5% after rallying 20% during Muhurat Trading session. More upside ahead?

The stock declined to Rs 1,246 apiece on the NSE on Monday morning, after closing at Rs 1,309 on Sunday. The sharp rally during the Muhurat session had added over Rs 3,334 crore to the company’s market capitalisation, a part of which was erased in Monday’s decline.

Finolex Cables Q2 results

The sharp surge over the short session came after the company reported a around 68% year-on-year jump in consolidated net profit to Rs 273 crore during the second quarter of the ongoing financial year 2027, from Rs 163 crore reported in the corresponding quarter of the previous financial year. The firm’s revenue from operations also saw a sharp surge, jumping around 65% YoY to Rs 2,269 crore during the quarter under review, from Rs 1,376 crore in the year-ago period.

Finolex’s electrical cables business saw 65% YoY increase in revenue to Rs 1,960 crore, while that for communication cables more than doubled to Rs 230 crore. Copper rods revenue however dropped from Rs 485 crore in the year-ago period to Rs 63 crore during the second quarter of the ongoing financial year.

Live Events

Also read | Sensex, Nifty end Muhurat Trading session in red for first time in 9 years. Are the bulls losing steam?

Should you buy, sell or hold Finolex Cables shares?Jefferies maintained its ‘Buy’ call on the shares of Finolex Cables after its Q1 earnings with a target price of Rs 1,410 apiece, implying around 8% upside potential from the stock’s previous closing price of Rs 1,309 apiece.

Finolex Cables shares have gained more than 10% in a week but dropped over 9% in a month. The shares of the company have jumped over 60% in 2026 so far and 65%in one year. In the longer term, the stock has gained over 34% in three years and more than 156% in five years.

Also read | Bonus, stock splits & dividends: Dabur India, HUL, ONGC among 76 companies turning ex-record date this week

Disclaimer: This article has been written by Debaroti Adhikary, who is not a SEBI-registered Research Analyst or an Investment Adviser. Debaroti Adhikary and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.