Polycab India Shares Slip 5.4% Intraday Then Rebound as NCLAT Advances Insolvency Appeal
Polycab India shares extended their decline for a second consecutive session on Wednesday, October 14, 2026, falling 5.40% to an intraday low of Rs 7,842 on NSE. The stock then rebounded and was last trading 0.25% higher at Rs 8,310.50. The move came amid developments in an insolvency case involving Asier Metals Pvt Ltd over an alleged operational debt of Rs 2.79 crore.
Share Price Movement
| Indicator | Reading | Change / Signal |
|---|---|---|
| Intraday low (NSE) | Rs 7,842 | -5.40% |
| Last traded price | Rs 8,310.50 | +0.25% |
| Session streak | Second consecutive session of decline before the rebound | Recovered from lows |
The slide follows a weak run for cable and wire stocks. Polycab India, KEI Industries, R R Kabel and Quadrant Future declined up to 5% on Tuesday, October 13, and had fallen about 24% from 52-week highs touched last month amid concerns over competition and promotional spending.
The Insolvency Case Timeline
| Date | Development |
|---|---|
| October 7, 2026 | NCLT Ahmedabad Bench admits the insolvency process against Polycab under Section 9 of the IBC |
| October 9, 2026 | NCLAT Principal Bench, New Delhi stays and keeps in abeyance the admission order |
| October 14, 2026 | NCLAT grants early listing of the appeal after it is mentioned |
| October 15, 2026 | Appeal to be heard, preponed from October 26, 2026 |
Polycab informed the stock exchanges that the appeal in Asier Metals Private Limited vs. Polycab India Limited was mentioned on October 14 for an early hearing, and that the tribunal granted the request. The company had earlier made intimations on October 7, 8 and 9.
The case, numbered C.P.(IB)No.273/9/AHM/2026, concerns the NCLT Ahmedabad order that admitted the corporate insolvency resolution process (CIRP). Polycab said it believes it has a strong case on merits, including that the matter is a commercial dispute of Rs 2.79 crore, and has filed an appeal against the admission order. The NCLAT order stays the admission order in its entirety until further orders, and the company said business and management operations continue as usual.
Company Position on Financial Impact
A Polycab spokesperson said the company does not expect any adverse or material impact on its financial or business operations from the order. The company said it holds a zero-debt position with strong cash and investment liquidity. Its balance sheet shows a net cash position in excess of Rs 4,000 crore and a net worth of Rs 11,682 crore, according to audited financial statements for the year ended March 31, 2026.
Market and Sector Impact
The stock's recovery from the intraday low came after the disclosure of the early hearing date. The alleged debt of Rs 2.79 crore is small against the company's reported net worth and net cash, though the share price reacted sharply to the admission of an insolvency process against the company.
What to Watch
The NCLAT hearing on October 15, 2026 is the next trigger, and any order or further intimation from Polycab to the exchanges would update the status of the stay. Investors will also track whether the broader cable and wire segment steadies after its recent decline.