Upbeat prospects for Finolex Cables; investors enthused
- The maker of electrical and telecom cables expects increased activity in the construction sector to boost demand for its products
Finolex Cables Ltd’s shares have gained 12% since the company’s meeting with analysts on 21 November. Finolex is widely viewed as a beneficiary of India’s focus on housing and capital expenditure. The company caters to high-growth sectors such as construction, automobiles, power, industrials, and telecommunications, which has buoyed the outlook for the maker of electrical and telecommunication cables given the increased activity in these sectors. Finolex’s focus on these key sectors perhaps also explains the 86% gain in the stock so far in 2023.